RCS - Arbuthnot Banking - H&Co: Tripedalism - three legs are better than two <Origin Href="QuoteRef">ARBB.L</Origin>

Arbuthnot BankingAnnouncement

01/08/2016 15:25

RNS Number : 8801F
Arbuthnot Banking Group PLC
01 August 2016
Hardman research: Tripedalism - three legs are better than two
Hardman & Co research report: Tripedalism - three legs are better than two
Arbuthnot Banking Group (ABG) now has three legs to its business, each offering good growth options. First, the Private Bank, Arbuthnot Latham (AL) has invested heavily in staff, products and new offices with the profit payback now visible. Secondly, ABG owns a 18.9% stake in Secure Trust Bank the rapidly growing challenger bank (market value 76m). Finally, we estimate ABG has c150m of surplus capital. With surplus liquidity, it has the capacity for significant organic or inorganic growth. The options to deploy this capital are virtually limitless. Our capital fully deployed valuation basis is 55% above the current price.
Please click here for the full report:
http://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/01-08-16-tripedalism-three-legs-are-better-than-two
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Hardman & Co
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London
EC2R 7AS
Contact: Mark Thomas mt@hardmanandco.com
Telephone: +44 20 7929 3399
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www.hardmanandco.com 
About Hardman & Co: For the past 20 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors,and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.
Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.
Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.

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