Brief: Arbuthnot Banking Says Qtrly Deposits Grew 7% To 3.5 Bln Stg

Arbuthnot Banking

19/10/2023 07:14

Oct 19 (Reuters) - Arbuthnot Banking Group PLC  ARBB.L :
    * DEPOSIT PRICING INCREASES EXPECTED TO STABILISE IN 2024 AS
MATURING DEPOSITS ARE RENEWED
    * CUSTOMER DEPOSIT BALANCE GROWTH OF 7% OVER QUARTER TO
£3.5BN
    * QTRLY FIXED DEPOSITS INCREASE BY £179M
    * AVERAGE COST OF DEPOSITS UP TO 291BPS AT SEPT 30 AND CO
EXPECTS
RATE TO ULTIMATELY RISE JUST ABOVE 310 BPS DURING 2024
    * WITHIN DEPOSIT BOOK SEE SEVERAL NON-RELATIONSHIP DEPOSITS
EXPECTED TO EXIT BY YEAR END & FY DEPOSIT GROWTH RATE EXPECTED
TO SLOW IN Q4

Source text for Eikon:  ID:nRSS5892Qa 
Further company coverage:  ARBB.L 

 ((Reuters.Briefs@thomsonreuters.com;))