REG - Secure Trust BankPLC - Q1 2026 trading update

Secure Trust BankAnnouncement

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RNS Number : 2364E  Secure Trust Bank PLC  14 May 2026

PRESS RELEASE

Secure Trust Bank PLC

14 May 2026

For immediate release

 

 

SECURE TRUST BANK PLC

Q1 2026 trading update

 

 

Secure Trust Bank PLC ("STB" or the "Group"), a leading specialist lender,
announces a trading update for the first quarter ended 31 March 2026. The
Group remains on track to achieve its full-year 2026 guidance.

Q1 2026 performance overview

                              Q1 2026  Q4 2025  QoQ % Change  Q1 2025  YoY % Change

                              £m       £m                     £m
 Net lending - continuing(1)  £3,345   £3,296   1.5%          £3,137   6.6%

 Deposits                     £3,149   £3,510   (10.3)%       £3,373   (6.6)%

 

Net lending

Continuing net lending balances grew by 1.5% in the quarter, and by 6.6%
year-on-year. This reflects a broadly stable quarter in Retail Finance, which
grew by 7.3% year-on-year, driven by a strong performance in Furniture.
Business Finance grew by 3.0% in the quarter, up 6.1% year-on-year, supported
by growth from its new Bridging product.

New product initiatives have gained traction in the quarter. Key roles are now
fully recruited and operational readiness including technology development is
progressing well. Lending activity has commenced across these products, with a
growing pipeline building positive momentum to support growth ambitions.

Deposits

Customer deposits decreased by 10.3% in the quarter and 6.6% year-on-year,
reflecting the reduced funding requirement following completion of the sale of
the Consumer Vehicle Finance business in February 2026.

Capital

The Group is on track to initiate the previously stated £10 million share
buyback programme, with an application for regulatory permission having been
submitted and pending approval.

 

 2026 previously stated guidance
 Net lending                      8-10% growth
 Risk adjusted margin             c. 10 bps improvement
 Costs                            Cost income ratio c.47%
 Capital                          Common Equity Tier 1 ratio c.13.5%
 Distributions                    Progressive dividend policy maintained

                                  Intention to launch £10 million buy-back programme, subject to regulatory
                                  approval
 Discontinued activities          Break even profit before tax pre-exceptionals

 Medium-term targets
 Annual growth in net lending     c.10%
 Return on Average Equity         >16%

 

The Group's interim results for the six months ending 30 June 2026 are due to
be released on 13 August 2026.

 

Ian Corfield, Chief Executive Officer, said:

"In Q1 2026 we have driven good progress against our strategic priorities that
we set out in March. Growth in our lending divisions and momentum in newer
product propositions reflect our continued focus on disciplined execution to
deliver higher returns. Whilst mindful of the instability caused by current
macroeconomic events, we remain on track for the full year and confident of
our medium-term prospects."

Footnotes

1. Continuing activities include Retail Finance, Business Finance, and Central
operations. Discontinued activities include the Vehicle Finance business.

 

Enquiries:

Secure Trust Bank PLC

Ian Corfield, Chief Executive Officer

Rachel Lawrence, Chief Financial Officer

Phil Deakin, Strategy and Corporate Development Director

Tel: +44 (0)121 693 9100

Email: ir@securetrustbank.co.uk (mailto:ir@securetrustbank.co.uk)

 

Investec Bank plc (Joint Broker)

Christopher Baird

Maria Gomez de Olea

Tel: +44 (0)20 7597 5970

 

Shore Capital Stockbrokers (Joint Broker)

Mark Percy

Oliver Jackson

Sophie Collins

Ansh Batura

Tel: +44 (0)20 7408 4090

 

Camarco

Geoffrey Pelham-Lane, Amrith Uppuluri

securetrustbank@camarco.co.uk (mailto:securetrustbank@camarco.co.uk)

Tel: +44 (0) 7733 124 226, +44 (0) 7763 083 058

 

Forward-looking statements

This document contains forward looking statements about the business, strategy
and plans of the Group and its current objectives, targets and expectations
relating to its future financial condition and performance. Statements that
are not historical facts, including statements about the Group's or
management's beliefs and expectations, are forward looking statements. By
their nature, forward looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur in the
future. The Group's actual future results may differ materially from the
results expressed or implied in these forward-looking statements as a result
of a variety of factors. These include UK domestic and global economic and
business conditions, risks concerning borrower credit quality, market related
risks including interest rate risk, inherent risks regarding market conditions
and similar contingencies outside the Group's control, expected credit losses
in certain scenarios involving forward looking data, any adverse experience in
inherent operational risks, any unexpected developments in regulation, or
regulatory and other factors. The forward-looking statements contained in this
document are made as of the date of this announcement. Except as required by
law or regulation, the Group undertakes no obligation to update or revise any
forward-looking statements.

About STB

STB is an established, well‐funded and capitalised UK retail bank with a
more than 72‐year trading track record. STB operates principally from its
head office in Solihull, West Midlands. The Group's diversified lending
portfolio focuses on two lending sectors, with multiple product verticals,
supported by a strong deposits franchise:

(i) Business Finance, and

(ii) Retail Finance through its V12 brand.

Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and the Prudential Regulation
Authority. Secure Trust Bank PLC, Yorke House, Arleston Way, Solihull, B90
4LH.

 

 

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