Hampden & co reports strong first half
Graeme Hartop, left, and Colin Tate
Private bank Hampden & Co has reported a strong first half, with year-on-year double-digit increases in income, deposits and lending.
In the six months to 30 June, income was up 24% to £6 million on the corresponding period last year. Deposits rose 42% to £603m, and lending grew 53% to £381m.
The Edinburgh-based bank’s performance follows strong growth in 2020 and has been achieved against a backdrop of historically low interest rates and wider changes in the UK private banking sector.
CEO Graeme Hartop said: “We have also been able to grow and strengthen our relationships with other advisers. The addition last year of our new retirement mortgage service has proved very popular with advisers and their clients as they seek effective solutions to managing finances in later life. This has been reflected in our performance in the first half.”
In April this year, the bank launched self-build mortgages for clients who are acquiring land and building a new residential home, or who are significantly refurbishing an existing home.
In line with growing client numbers, Hampden & Co added to their banking and support teams in London and Edinburgh during the first half of the year, including senior hires, and continue to invest in their people and technology.
In June, Colin Tate was hired as chief operating officer (COO), joining from Sainsbury’s Bank where he spent over a decade in senior management roles. Mr Tate is working closely with CEO Hartop on the bank’s technology strategy and business change programme.