Secure Trust Bank

Secure Trust Bank is a British retail and commercial banking group listed on the London Stock Exchange, where it is a constituent of the Main Market.

Secure Trust Bank PLC
TypePublic (LSE: STB)
IndustryFinancial services
Founded1952
Headquarters
Solihull
,
United Kingdom
Key people
Lord Forsyth (Chairman)
David McCreadie (CEO)
ProductsBusiness banking, motor finance, retail finance, savings
Revenue£191.4 million (2019)[1]
£165.5 million (2019)[1]
£31.1 million (2019)[1]
Total assets£2.7 billion (2019)[1]
Websitewww.securetrustbank.com

History

The bank was established in 1952 as Secure Homes Limited, became a subsidiary of the Arbuthnot Banking Group in 1985,[2] and became Secure Trust Bank PLC in 1994.[3] In 2016 the Arbuthnot Banking Group reduced its majority stake from 51.9% to 20%, for about £145 million.[4]

In 2015 the bank launched an asset finance division to enable it to offer lending to businesses.[5]

In 2016 the bank sold its consumer lending business Everyday Loans, reducing its position in UK's unsecured personal loan market.[6]

In January 2021, Secure Trust Bank announced that CEO Paul Lynam would be stepping down with immediate effect, to be replaced by David McCreadie, a former Managing Director at Tesco Bank.[7]

Operations

The bank offers a variety of savings accounts and consumer and business lending products. Motor finance is offered via hire purchase through its Moneyway brand, and hire purchase, personal contract purchase and dealership finance through the V12 Vehicle Finance brand.

V12 Retail Finance, a company acquired by Secure Trust Bank in 2013, provides point of sale loans for a number of retailers, primarily financing consumer electronics, furniture, and leisure products.

Also in 2013, Secure Trust Bank acquired Debt Managers (Services) Limited, through which it conducts credit management and collections operations across its brands, acquired portfolios, and on behalf of private clients.

Secure Trust Bank additionally operates in commercial finance, real estate finance, asset finance and invoice financing.

References
  1. "Secure Trust Bank PLC Annual Report & Accounts 2019" (PDF). Secure Trust Bank. Retrieved 1 June 2020.
  2. "Corporate Information". Secure Trust Bank. Retrieved 11 September 2015.
  3. Company No. 00541132. "Companies House - Secure Trust Bank Public Limited". Companies House. Retrieved 1 December 2017.
  4. Wallace, Tim (27 May 2016). "Arbuthnot sells down majority stake in Secure Trust Bank". Daily Telegraph. Retrieved 1 December 2017.
  5. Titcomb, James (8 March 2015). "Challenger bank Secure Trust makes business lending push". The Telegraph. Retrieved 11 September 2015.
  6. "Secure Trust raises red flag over unsecured personal loans market". proactiveinvestors. 13 January 2017. Retrieved 1 December 2017.
  7. "SECURE TRUST BANK APPOINTS CEO". Insider Media Limited. 5 January 2021. Retrieved 5 January 2021.


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