Hampden Bank is relocating its office in London and opening an office in Manchester to serve the north and Midlands.

The bank recently moved to new premises in Charlotte Square, Edinburgh, and new chief executive Tracey Davidson is embarking on a roll-out of its operations into England.

Pre-tax profit for the year fell to £8.2 million from £9.1m, partly a result of its investment in people and technology, and also because of the higher costs of deposits.

The private bank, which recently rebranded from Hampden & Co, said chairman Simon Miller will be retiring and will be succeeded by David Huntley, a non-executive director since 2020 who joined the board as chair of the risk committee. Mr Huntley is a trained actuary and was latterly chair of Scottish Friendly.

Mr Miller said: “He has a deep knowledge of the bank, its culture and ethos. I leave the bank in good hands as it prepares for its next phase of growth.”

Today’s statement shows deposits and lending grew by double-digits while the number of clients reached 6,000, supported by introductions from clients and professional advisers.

Total deposits across current, call, notice, and term accounts increased by 16% year-on-year to £991 million (2023: £858m). 

Lending increased by 20% to £586m (2023: £488m), on the back of strong demand as interest rates stabilised. The bank relaunched its digital banking app in November.

The board has proposed a dividend to shareholders of 3.2p per share, doubling last year’s inaugural dividend. 

Ms Davidson, who joined the bank as CEO in October and was named by Daily Business as one of the business figures to watch in 2025, said: “These results and our plans for future growth are evidence of strong demand for personalised banking, delivered with exceptional service.

“As we celebrate our tenth anniversary in 2025, we are excited to welcome clients to our new offices in Edinburgh and London, and to build relationships with clients and professional partners in the North and Midlands from a new Manchester base.”