Hampden & Co plc, the private bank, has announced continued strong growth in lending and deposits.
The bank grew its deposits by £95m (+39% vs 30th June 2018) and lending by £47m (+44% vs 30th June 2018), and continues to grow its client base. This translated to income growth of 48% compared to the same period last year.
The first half of 2019 also saw the launch of an enhanced digital banking service and the strengthening of the banking teams in Edinburgh and London. The bank also launched its Property Finance Review in which high net worth respondents answered questions around their top financial priorities and experiences in setting up mortgages. This highlighted that only 3 in 10 of the responding high net worth individuals feel like they are treated as a person by their provider when arranging a mortgage.
CEO, Graeme Hartop, said: “Despite the industry wide move towards automation and anonymity, the ongoing growth demonstrated in these figures shows a pent-up demand for our personalised private banking service. We continue to strengthen our banking teams in Edinburgh and London to match our financial growth and we feel confident as we head into the second half of the year. Our analysis of the market in the first half of the year showed how frustrating the mortgage application process can be, which is where our personalised approach comes to the fore, particularly around helping families get on the property ladder.”
Hartop also commented on the bank’s performance since the half year, stating “Even during the more traditionally quiet months of July and August, the bank has continued to attract new clients, driving both sides of the balance sheet, maintaining Hampden & Co’s growth trajectory.”