Secure Trust trades in line as strategic plan progresses
British retail bank Secure Trust continued to progress its strategic plan during 2019, with strong control over the cost of risk and further investment in its motor platform.
Secure Trust said on Wednesday that it had delivered further revenue and loan book growth in the second half of the year, despite the flatlining of GDP growth last autumn which dampened demand for consumer and house building finance across the sector.
The AIM-listed group told investors it was "pleased" with its performance and noted that full-year results were expected to be in line with both management and market expectations.
However, Secure Trust added that it was looking ahead to 2020 "with cautious optimism".
"The group enters 2020 with strong new business pipelines, healthy capital and liquidity positions and remains well placed to pursue its strategic priorities and envisages no material change for its guidance for 2020," said Secure Trust.
As of 1015 GMT, Secure Trust shares were up 2.48% at 1,650p.