- Year-on-year double-digit increases in income, deposits and lending
- In the six months to 30th June 2021, income was up by 24 per cent against the same period in 2020 to £6m, deposits rose 42 per cent to £603m, and lending grew by 53 per cent to £381m
UK private bank Hampden & Co has reported a strong first half, with year-on-year double-digit increases in income, deposits, and lending. In the six months to 30th June 2021, income was up by £1.2 million or 24 per cent against the first half of the previous year to £6 million, deposits rose by £180 million or 42 per cent to £603 million, and lending grew by £133 million or 53 per cent to £381 million.
The performance follows strong growth in 2020 and has been achieved against a backdrop of historically low interest rates and wider changes in the UK private banking sector. Hampden & Co’s growth demonstrates particular interest from individuals and businesses who are looking for a more personalised banking relationship.
Hampden & Co CEO Graeme Hartop said: “We have continued to experience strong demand for our accessible and flexible approach to banking, particularly during lockdown when clients valued having a banker they can call on.”
Graeme Hartop added: “With our focus exclusively on banking, we have also been able to grow and strengthen our relationships with other advisers. The addition last year of our new retirement mortgage service has proved very popular with advisers and their clients as they seek effective solutions to managing finances in later life. This has been reflected in our performance in the first half.”
In April this year, the bank launched self-build mortgages for clients who are acquiring land and building a new residential home, or who are significantly refurbishing an existing home.
In line with growing client numbers, Hampden & Co added to their banking and support teams in London and Edinburgh during the first half of the year, including senior hires, and continue to invest in their people and technology.
In June, Colin Tate was hired as chief operating officer (COO), joining from Sainsbury’s Bank where he spent over a decade in senior management roles. Tate is working closely with CEO Hartop on the bank’s technology strategy and business change programme.
