Search Follow us

Secure Trust Bank (STB)

Business description

Secure Trust Bank is a well-established specialist bank, addressing niche markets within consumer and commercial banking. It has recently launched a non-standard mortgage business.

Stock data

Market cap.£333m
Last close1,802.50p
High / Low (52 weeks)2085.0p / 1512.5p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A

Price performance

Relative *(6.1)(10)(13.1)

* % Relative to local index

Other companies in sector Show

3i Group Abbey Protection
Aberdeen Asset Management Admiral Group
AFH Financial Group Ai Claims Solutions
Allied Minds Alpha Strategic
Amlin APQ Global
Arbuthnot Banking Group Arden Partners
Ashford Ashford Hospitality Trust
Ashmore Group Atlantis Japan Growth Fund
Attica Bank Aviva
Banca IFIS Banca Sistema
BB Healthcare Trust Beazley
BlackRock Emerging Europe Braemar Hotels & Resorts
Brewin Dolphin Brightside Group
Catlin Group Cenkos Securities
ChimpChange Circle Holdings
City of London Group Collins Stewart
Corestate Capital Holding Covercy
Curtis Banks DeA Capital
Deutsche Börse Deutsche Grundstücksauktionen
DF Deutsche Forfait Empiric Student Property
Ernst Russ Experian
Fairpoint Group FBD Holdings
Ferratum Oyj FinLab
Gable Holdings Gartmore Group
GCP Student Living German Startups Group
GLI Finance Grand City Properties
Hardy Underwriting Hargreaves Lansdown
Heartland New Zealand Helphire
Henderson Group Hiscox
HSBC Holdings ICAP
ICG-Longbow Senior Secured UK Property Debt Investments Ltd IE Financial
IFG Group IG Group
Impax Asset Management International Personal Finance
Is Yatirim Menkul Degerler JDC Group
John Laing Group Jupiter Fund Management
Lancashire Holdings Lighthouse Group
Liontrust Asset Management Lloyd Fonds
London Stock Exchange Group MAN Group
Market Tech Holdings Mattioli Woods
MCB Finance Group mic MPC Capital
MyBucks NEOVIA Financial
Noratis Novae Group
Numis Corporation Nurnberger Beteiligungs
Oakley Capital Investments Ocean Capital
Oekoworld Omega Insurance Holdings
OTC Markets Group Panmure Gordon
Park Group Picton Property Income
Powerhouse Ventures Prudential
publity Quayle Munro Holdings
Randall & Quilter Investment Holdings RCM Beteiligungs
Record Rensburg Sheppards
RSM Tenon S&U
Sanlam Securities UK Scherzer & Co
Schroders Share
Shore Capital Group St. James's Place
Supermarket Income REIT Syndicate Asset Management
Tawa The Dolphin Square Charitable Foundation
Town Centre Securities Tungsten Corporation
Umweltbank Volta Finance
Warsaw Stock Exchange WH Ireland
WorldSpreads Group

Company news

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 107.0 N/A 27.3 113.0 16.0 N/A
2017A 129.5 N/A 27.0 116.4 15.5 N/A
2018E 160.5 N/A 37.0 160.7 11.2 N/A
2019E 181.4 N/A 47.0 202.5 8.9 N/A

Last updated on 25/06/2018

Latest research

Investment summary

STB's AGM update confirmed that trading since the end of FY17 has been in line with expectations. Loan growth has been strong across the consumer and SME areas of the book. A controlled approach is being taken in consumer mortgages with pricing expected to improve following the ending of the Term Funding Scheme (TFS). Last year saw the loan book repositioned away from higher risk lending and the benefits of this are evident in credit quality running in line with expectations. Funding costs are stable currently and the bank's new deposit platform should help mitigate upward pressures that may arise as TFS funding is replaced.

Last updated on 29/06/2018

Industry outlook

Looking ahead, STB sees good potential for profitable growth in business, retail, motor and consumer mortgage lending while retaining a cautious approach to credit risk. Following the period of adjustment in 2017 STB is well placed to generate attractive earnings growth. STB will continue to monitor opportunities for inorganic growth and the recently agreed takeover of Virgin Money by CYBG illustrates the potential for consolidation among small and mid-sized lenders.

Last updated on 29/06/2018

Key management

Paul Lynam, CEO
Neeraj Kapur, FD

Company address

One Arleston Way
Solihull, West Midlands
B90 4LH
United Kingdom
0121 693 9100
View website