Brief: Secure Trust seals motor debt sale, posts Q1 loan book growth
15/05/2025 07:04
May 15 (Reuters) - Secure Trust Bank PLC STBS.L: SECURE TRUST BANKPLC - Q1 2025 TRADING UPDATE NET LOAN BOOK GREW BY 3.2% IN QUARTER (TO £3.7BN) AND 10.5% YEAR-ON-YEAR. CUSTOMER DEPOSITS GREW BY 3.9% IN QUARTER (TO £3.4BN) TO SUPPORT OUR LENDING OBJECTIVES AND WERE 15.4% HIGHER COMPARED TO Q1'24 IN Q1 GROUP REPAID A FURTHER £98M OF TFSME AHEAD OF MATURITY WITH A FURTHER £30M REPAID SINCE END OF QUARTER. GROUP IS WITHIN REACH OF ITS £4 BILLION NET LENDING AMBITION IN NEAR TERM. IN EARLY APRIL, GROUP SOLD £25.8M OF DEFAULTED VEHICLE FINANCE LOAN BALANCES THAT HAD BUILT UP THROUGH 2024 FOLLOWING SECONDARY IMPACTS OF FCA'S BORROWERS IN FINANCIAL DIFFICULTY REVIEW Source text: ID:nRSO7281Ia Further company coverage: STBS.L (Reporting By Sinead Cruise) ((sinead.cruise@thomsonreuters.com;))