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BRIEF-Arbuthnot warns of post-Brexit rate cut hit to bank margin
October 13, 2016 / 7:16 AM / a year ago

BRIEF-Arbuthnot warns of post-Brexit rate cut hit to bank margin

Oct 13 (Reuters) - Arbuthnot Banking Group Plc

* Third quarter trading update

* Has continued to trade well during quarter

* Overall lending pipeline has shown good growth, although period of time between approval and drawdown of loans has marginally increased

* Commercial bank continues to develop at a good rate

* Have accelerated our expansion plans and are taking on new premises in manchester to cover north west and expect to have a further six commercial bankers in place by early 2017

* Recent reduction in base rate will result in a short term fall in arbuthnot latham’s net interest margin

* However, longer term impact of this may be reduced dependant on where rates in deposit market stabilise

* Are proposing to pay a further special dividend of £3 per share, which equates to approximately £45 million Source text for Eikon: Further company coverage:

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