Secure Trust Bank (STB) Trading Update summary

Net lending and deposits

• Net loan book increased by 3.2% in Q1 2025 to £3.7bn, up 10.5% year-on-year, nearing the £4bn target.

• Business Finance net lending rose 4.9% and Consumer Finance by 1.8% in the quarter.

• Customer deposits grew 3.9% in Q1 to £3.4bn, 15.4% higher than Q1 2024.

• 74% of TFSME funding repaid, with £102m outstanding after further repayments post-quarter.

Operational initiatives and cost management

• Sold £25.8m of defaulted Vehicle Finance loans in April to improve arrears management.

• Completed new operating model implementation, supporting operational efficiency.

• On track to deliver £8m annualised cost savings from Project Fusion by year-end.

Strategic outlook and risk monitoring

• Prudent management of lending growth amid global market and geopolitical uncertainties.

• Confident outlook supported by strong lending momentum and operational improvements.