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Hampden and Co set to declare first full-year profit in 2022

  • 22/08/2022
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Private bank Hampden and Co is on track to deliver its first full-year profit for 2022 following a strong performance during the first half of the year.

Its gross loans and advances came to £58.1m during the period, of which retirement mortgages accounted for £6.9m.

The bank said lending introduced by advisers and intermediaries, including mortgage brokers, wealth managers, solicitors and other professionals grew by 30 per cent to £100m.  

Hampden and Co recently appointed Hannah Berridge as head of professional relationships to support its work with advisers and develop these partnerships. 

The bank’s income rose by 47 per cent annually to £8.8m, and it saw a 14 per cent uplift in the total value of its loans and advances to £434m. Deposits also increased by 21 per cent to £731m. 

Its self-build mortgage product, which was launched last year, closed the period with a loan book value of £3.6m while its lending for retirement mortgages rose by 80 per cent annually. The value of its portfolio lending offering, which allows clients of wealth managers to borrow against their investment portfolios, rose 40 per cent year-on-year to £35m. 

Hampden and Co said demand for its specialist mortgages, including residential, retirement, buy to let, multi-property and self-build was most notable in London and the South East. These regions accounted for two thirds of all specialist mortgage lending during the first six months of the year. 

The bank did not disclose its profit for the period.

Graeme Hartop, CEO of Hampden and Co, said: “Our continued and consistent growth for the first half of 2022 is testament to our relationship-driven approach with clients and the professional advisers that serve them. With some private banks moving away from traditional service models, our results show that clients still want and value having access to a named banker and a tailored proposition. 

“We continue to invest in growing the business and we are seeing the results of our long-term strategy in terms of client growth and reputation reflected in these very positive financials. Importantly, the bank is on track to report its first full-year profit in FY2022.” 

Simon Miller, chairman of Hampden and Co, added: “The successful results can be attributed to the commitment of supportive shareholders, a talented management team and dedicated employees who have built a highly rated, client-led bank.” 

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