Secure Trust Bank is a British

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

and

commercial banking A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

group listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

, where it is a constituent of the

Main Market Main may refer to: Geography * Main River (disambiguation) **Most commonly the Main (river) in Germany * Main, Iran, a village in Fars Province *"Spanish Main", the Caribbean coasts of mainland Spanish territories in the 16th and 17th centuries ...

History

The bank was established in 1952 as Secure Homes Limited and became a subsidiary of the

Arbuthnot Banking Group Arbuthnot Latham & Co is a private bank, private and merchant bank based near Moorgate in the City of London. It has the status of one of the 12 accepting houses. History Arbuthnot Latham was founded on 13 May 1833 by Alfred Latham and John A. Arb ...

in 1985. The company became Secure Trust Bank PLC in 1994 and was floated on the London Stock Exchange in an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

in November 2011. In 2015 the bank launched an asset finance division to enable it to offer lending to businesses. In 2016 the Arbuthnot Banking Group reduced its majority stake from 51.9% to 20%, for about £145 million. Later that year, the bank sold its consumer lending business Everyday Loans, reducing its position in UK's unsecured personal loan market. In January 2021, Secure Trust Bank announced that CEO Paul Lynam would be stepping down with immediate effect, to be replaced by David McCreadie, a former Managing Director at

Tesco Bank Tesco Bank is a British retail bank which was formed in July 1997 (as Tesco ''Personal Finance''), and which has been wholly owned by Tesco plc since 2008. The bank was formed as part of a 50:50 joint venture between The Royal Bank of Scotland a ...

. In May of 2022, Secure Trust Bank completed the acquisition BNPL start-up AppToPay which will operate as part of V12 Retail Finance to offer a BNPL style product alongside its traditional retail finance products.

Operations

The bank offers a variety of savings accounts and consumer and business lending products. Motor finance is offered via

hire purchase A hire purchase (HP), also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset pl ...

through its Moneyway brand, and hire purchase,

personal contract purchase Personal contract purchase (PCP), often referred to as a personal contract plan, is a form of hire purchase vehicle finance for individual purchasers, to both personal contract hire and a traditional hire purchase (buying on installments). Unlik ...

and dealership finance through the V12 Vehicle Finance brand. V12 Retail Finance, a company acquired by Secure Trust Bank in 2013, provides point of sale loans for a number of retailers, primarily financing consumer electronics, furniture, and leisure products. Also in 2013, Secure Trust Bank acquired Debt Managers (Services) Limited, through which it conducts credit management and collections operations across its brands, acquired portfolios, and on behalf of private clients. In 2022, Secure Trust Bank announced it would be selling the Debt Managers business to Swedish firm Intrum. Secure Trust Bank additionally operates in

commercial finance In the United States, commercial finance is the function of offering loans to businesses. Commercial financing is generally offered by a bank or other commercial lender. Most commercial banks offer commercial financing, and the loans are either s ...

, real estate finance,

asset finance A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

and invoice financing.

References

External links

* Banks of the United Kingdom Banks established in 1952 1952 establishments in the United Kingdom Companies listed on the London Stock Exchange {{UK-bank-stub