Secure Trust Bank PLC (STB)

[johnhemming]

https://www.investegate.co.uk/secure-tr ... 00023783M/

I tend to keep an eye on STB because I had a JV with them in 1995 which set up the first banking service on t'Internet. This was a day before Wells Fargo.

However, they have come out with a positive trading update

As at 11 January 2021, the Group's compiled Full Year 2020 consensus was £7.6m Statutory PBT, ranging from £5.6m to £9.7m. As the Group has made further positive progress since the Q3 trading update in October, the Group expects that the full financial year 2020 results will be materially ahead of the upper end of consensus profit before tax.

I cannot quite reconcile the figures on Stockopedia and ADVFN so I don't think I will say any more.

Unsurprisingly I do hold some. They do have a wide spread and the price seems to move on really small volume at times.

[Dod101]

Wasn't Secure Trust spun out of Arbuthnott? If so they have probably retained the conservative profile of Arbuthnott and will probably do quite well at the moment.

Dod

[johnhemming]

Wasn't Secure Trust spun out of Arbuthnott? If so they have probably retained the conservative profile of Arbuthnott and will probably do quite well at the moment.

They were a subsidiary at one point.

I see them as quite cautious. My expectation in banking and finance is that with a lot of recently minted cash floating around and government underwritten loans the reserves for bad debt will in the long term be seen as on the high side rather than understated.

However, in the end if they come through the year with profit running at around £10m plus that is not a bad outcome. I don't know what "materially" means in this situation, however.

[XFool]

Wasn't Secure Trust spun out of Arbuthnott? If so they have probably retained the conservative profile of Arbuthnott and will probably do quite well at the moment.

They were a subsidiary at one point.

In fact, at one point, Arbuthnot Banking Group was called Secure Trust Banking Group. Now Secure Trust Bank is separately listed. Can be a bit confusing...

[Dod101]

Thanks. I at one time held shares in Arbuthnott Banking Group on the basis that they were a very conservative outfit and they were, but sadly to the extent that they did very little as long as Sir Henry Angest got his dividends. They then spun off Secure Trust but that did nothing either so I sold. I did not know that they were at one time known as Secure Trust Banking Group. I thought that the name Arbuthnott Latham was their best trading name.

Dod

[GrahamPlatt]

I bought into Secure Trust Banking, and was duly issued with the certificate. They then devolved into Arbuthnot Banking Group and Secure Trust Bank. Original holders (me) were now holding ARBB, which for some years held a 50% or so stake in STB. Which was then sold off. They never bothered issuing new share certificates. So now, while my share certificate says STB, it relates to my holding of ARBB.

[XFool]

I bought into Secure Trust Banking, and was duly issued with the certificate. They then devolved into Arbuthnot Banking Group and Secure Trust Bank. Original holders (me) were now holding ARBB, which for some years held a 50% or so stake in STB. Which was then sold off. They never bothered issuing new share certificates. So now, while my share certificate says STB, it relates to my holding of ARBB.

Snap! I also now have a holding in Secure Trust Banking in an ISA. I have considered moving my ARBB share holding (titled Secure Trust Banking Group!) into the ISA.

Could be confusing.