Achi news desk-
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The influx of customers helped Hampden increase its total loans by 9% to £488 million, with the bank pointing to strong demand for residential mortgages, retirement interest only, buy-to-let and self-build, and deposits increased by 8% to £858m. Term accounts saw net inflows of £142m as savers took advantage of higher interest rates, the bank said.
Hampden, launched by ex-Adam & Co banker Ray Entwistle in 2013, saw pre-tax profits rise to £9.1m and £2m in 2022, giving its board confidence to pay its first dividend to shareholders. However, he did not disclose the value of the payout.
During the period the bank, which has offices in Edinburgh and London, also continued to add to its team. The number of employees increased by 23% to 154, with key hires including the arrival of industry veteran Mark Plummer as head of private banking and Patrick Preece as director of banking in London, and Claire Mann as head of client propositions. It boosted its mortgage intermediary team with the recruitment of Martin Hillyer as intermediary relationship director.
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Chief executive Graeme Hartop, former managing director of Scottish Widows Bank who joined Hampden in 2013, said: “Our accessible and personal approach to banking is appreciated by our existing clients and has attracted many new clients. It shows that many people, including high net worth customers and supporters of high street lenders, appreciate the benefits of relationship banking.”
He added: “In an environment where interest rate rises have encouraged people to use savings to pay down debt, the bank grew deposits and loans in 2023.
“The high number of referrals from other advisers, including wealth managers, lawyers, accountants and mortgage brokers was a further positive endorsement of the bank, our staff and our ability to work in partnership with these other professionals.”
