Secure Trust Bank stays away from higher-risk consumer lending, seeks deals

Reuters | January 17, 2018

Secure Trust Bank stays away from higher-risk consumer lending, seeks deals
Secure Trust Bank said it continued to reposition its lending portfolios away from higher-risk consumer lending during the final quarter of 2017 and was looking for deals this year.The former retail bank of Arbuthnot Banking Group said customer numbers and retail finance, motor finance, mortgages and SME lending balances had continued to grow, in a “carefully controlled manner”, last year. In 2017, Secure Trust had maintained its cautious stance on consumer lending due to ongoing economic uncertainty and regulatory warnings. Secure Trust sold a portfolio of unsecured personal loans to a company owned by AnaCap Credit Opportunities III LP last month.
The sale of the portfolio, with a net book value of 48.5 million pounds ($66.8 million) at June end, marked the bank’s exit from the unsecured personal loan market. Britain’s financial regulators have warned that lenders are being too complacent about the risks from rapid growth in consumer credit at a time when household incomes are barely rising.

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As an Investment Banking Associate, Yang supports senior bankers and works with clients to help them raise capital and make investment decisions. He likes that J.P. Morgan has the same global culture of valuing teamwork and collaboration - no matter where you're located.

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