Private bank boosts funds
Hampden raising £3m as lending rises 16%
Graeme Hartop: strengthening leadership team
Private bank Hampden & Co is raising £3 million from existing investors which will take new funding to £10 million this year.
The Edinburgh-based bank has reported strong results during Q3 on the back of demand for borrowing.
Total lending was up 16% against the previous quarter at £289 million and increased 77% on a year-on-year basis.
Deposits also increased over the quarter, up £5.2 million, despite the drop in interest rates to historic lows, and were up 13% at £65 million on a year-on-year basis.
David Huntley has joined the board and will become chairman of the risk committee.
Mr Huntley, who is a qualified actuary, previously worked at Pearl Life, Scottish Re and Swiss Re Life.
Graeme Hartop, CEO, said: “We strengthened both the leadership team and the board this year, and David is another key appointment for the bank.”