Secure Trust Bank is an established, well-funded and capitalised UK retail bank. The Bank was incorporated in 1954, was admitted to AIM in November 2011 and, in October 2016, successfully listed on the Main Market of the London Stock Exchange. The Bank and its subsidiaries are referred to as ‘the Group’.
The Group's strategy is to build on its current position as an established UK retail bank through a focus on carefully selected and attractively priced segments of the consumer and business markets, prudent underwriting and a prudent approach to capital and liquidity. The Group intends to continue growing its business through professional and responsible lending across existing and new lending divisions and selective acquisitions of loan books and businesses, funded by capital and customer deposits.
The Group operates principally from its head office in Solihull, West Midlands, and had 726 employees (full-time equivalent) as at 31 December 2016. The Group's diversified lending portfolio currently focuses on three sectors, almost entirely funded by customer deposits, with substantially no exposure to wholesale funding:(i) Business Finance through its Asset Finance, Commercial Finance and Real Estate Finance
Divisions (ii) Consumer Finance through its Motor Finance and Retail Finance Divisions. (iii) Mortgages through its intermediary dedicated Mortgage Division. The Group intends to use its strong capital base to develop a broad based portfolio, balanced in the longer term across these sectors.
The Group's fundamental strategic aims are:(i) to maximise shareholder value through strong lending growth by delivering positive customer outcomes in both its existing markets and new markets.
(ii) to protect the reputation, integrity and sustainability of the Group for all of its customers and stakeholders via prudent balance sheet management, investment for controlled growth and robust risk and operational control
(iii) to ensure that the fair treatment of customers is central to corporate culture
(iv) to ensure that the Group provides a supportive environment for its employees to deliver good service levels for its customers
Lending business is sourced primarily through carefully selected business partners and through online channels.
Through carefully targeted lending products, the absence of large fixed overheads, in the form of a branch network, and a policy of not cross-subsidising loss making products with profitable ones, the Group is able to offer competitive deposit interest rates and has been successful in attracting deposits from a wide range of customers.