Brief: Secure Trust Bank To Stop New Lending in Vehicle Finance
02/07/2025 07:43
July 2 (Reuters) - Secure Trust Bank PLC STBS.L: ANNOUNCES STRATEGIC PIVOT AWAY FROM VEHICLE FINANCE TO STOP NEW LENDING IN VEHICLE FINANCE EXPECTED UPLIFT ON ADJUSTED PBT TO £56.6M FROM £39.1M WILL CONTINUE TO SUPPORT ITS EXISTING CUSTOMERS AND LOAN PORTFOLIO IN VEHICLE FINANCE EXPECTING 284 ROLES TO BE AT RISK BY 2030, INCLUDING 78 ROLES AT RISK IN FY2025 SECURE TRUST BANK PLC - RESTRUCTURING COSTS OF C.£5.0M(2) ARE EXPECTED TO BE INCURRED ((Reuters.Briefs@thomsonreuters.com;;))