Jan 17 (Reuters) - Secure Trust Bank said it continued to reposition its lending portfolios away from higher-risk consumer lending during the final quarter of 2017 and was looking for deals this year.
The former retail bank of Arbuthnot Banking Group said customer numbers and retail finance, motor finance, mortgages and SME lending balances had continued to grow, in a “carefully controlled manner”, last year.
In 2017, Secure Trust had maintained its cautious stance on consumer lending due to ongoing economic uncertainty and regulatory warnings.
Secure Trust sold a portfolio of unsecured personal loans to a company owned by AnaCap Credit Opportunities III LP last month.
The sale of the portfolio, with a net book value of 48.5 million pounds ($66.8 million) at June end, marked the bank’s exit from the unsecured personal loan market.
Britain’s financial regulators have warned that lenders are being too complacent about the risks from rapid growth in consumer credit at a time when household incomes are barely rising. ($1 = 0.7264 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)