Arbuthnot Banking loan and deposit businesses grow in Q3

09:47 16/10/2019 - Arbuthnot Banking said loan and deposit segments had grown in the third quarter as the lender made good progress on efforts to diversify and develop its business.

For the three months to 30 September 2019, loan balances grew 33% to exceed £1.6bn compared with the prior year and deposit balances increased 17% to surpass £2bn, the company said.

The uptick in performance comes as the company reported continued good progress in developing and diversifying the business, with new divisions continuing to make strong progress, the company added.

Renaissance Asset Finance ended the quarter with lending balances of £101m, an increase of 22% compared to the prior year.

Arbuthnot Asset Based Lending has grown customer facilities to £106m, an increase of 278% over the prior year.

At 9:47am: (LON:ARBB) Arbuthnot Banking Group PLC share price was +10p at 1075p

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