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Arbuthnot Banking's retail banking unit drives first-half profit
July 22, 2014 / 6:31 AM / 3 years ago

Arbuthnot Banking's retail banking unit drives first-half profit

July 22 (Reuters) - Britain’s Arbuthnot Banking Group posted a nearly five-fold rise in first-half pretax profit as its Secure Trust Bank unit continued to expand its rapidly growing customer base.

Arbuthnot, which has its roots in 181-year-old private bank and wealth manager Arbuthnot Latham, said net interest income rose to 41.1 million pounds ($70.2 million) in the six months ended June 30, from 30.1 million pounds a year earlier.

Pretax profit rose to 9.5 million pounds for the period, up from the 2 million pounds reported a year earlier. ($1 = 0.5855 British Pounds) (Reporting by Richa Naidu and Abhiram Nandakumar in Bangalore; Editing by Gopakumar Warrier)

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