Hartop credits ‘agility’ for Hampden & Co’s strong year
Private bank Hampden & Co saw strong growth in loans and deposits for the year to 31 December 2021.
Deposits from clients rose by 39% to £696 million (2020: £501m), while loans and advances were up 2% to £422m (2020: £326m).
Total income for the year increased 29% to £13.2m (2020: £10.2m), the highest level since the Edinburgh-based bank was launched in 2015.
Hampden & Co benefitted from strong demand for its tailored lending solutions. In 2021. The bank also extended its specialist offerings.
Demand was most marked in London and the South East, accounting for around two thirds of total lending.
The bank’s traditional Scottish markets registered strong client and lending growth. In addition, lending via referrals from mortgage intermediaries rose over 38%.
Graeme Hartop, CEO, said: “The bank performed well in 2021 and demonstrated agility and resilience to help clients face the challenges of the pandemic.
“The rise in interest rates from the historic lows of the last few years will help us to achieve profitable scale. We see signs of further rates increases in 2022 in response to inflationary pressure.”