The lender said that in 2019, income grew 36 per cent to £8.7 million, while client deposits grew 53 per cent to £409.4m and client lending increased by 54 per cent to £203.8m, which includes £31m from the acquisition and transfer of Smith & Williamson’s loan book in December.
The growth included an expansion into the mortgage intermediary market, particularly in relation to complex mortgages for high-net-worth individuals. In April of 2019, the bank’s cornerstone shareholders invested £9.8m to support continued growth and to meet ongoing costs and regulatory requirements.
In the current year, Hampden & Co experienced a strong start in the first quarter and announced the appointment of Simon Miller as chairman last month.
Chief executive Graeme Hartop said: “2019 represented the bank’s fourth year of trading and it was another strong year, both in terms of financial and operating performance, and delivery to clients.
“We strengthened the banking teams in Edinburgh and London while making a series of senior hires across the bank. Following a strong start to 2020, like many businesses and individuals across the UK we face challenging times in the face of the current health crisis.
“However, we feel fortunate to have experienced bankers who have been through previous economic crises who are able to help their clients through the current issues they face. Looking ahead, we are confident that our absolute client-first focus will continue to attract strong levels of new business.”
Alex Hammond-Chambers, Hampden & Co’s current chairman, also commented: “Hampden & Co has established itself as one of the most highly-rated banks in the UK private banking sector. Notwithstanding the current pandemic and related economic uncertainty ahead, it has a robust business model and client-first mentality that puts the bank in a strong position to continue its upward trajectory.
“Hampden & Co has an experienced and agile team which continues to deliver a high quality service to a growing client base.”
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