The Edinburgh-headquartered bank saw double-digit increases in both deposits and lending. Deposits grew by 16% year-on-year to £991 million, while lending rose by 20% to £586m, attributed to stabilised interest rates and strong demand. Client numbers reached 6,000, boosted by referrals.

Despite the growth, pre-tax profit slightly decreased to £8.2m from £9.1m in 2023, reflecting higher deposit costs and investments in personnel and technology, including a relaunched digital banking app.

The board has proposed a dividend to shareholders of 3.2p per share, doubling last year’s inaugural dividend. 

The bank moved to new premises in Edinburgh in March and will move to larger offices in London over the summer. It also announced that it will expand its footprint, serving North England and Midlands from a new Manchester base this year.

Tracey Davidson, who joined the bank as CEO in October 2024, said: “These results and our plans for future growth are evidence of strong demand for personalised banking, delivered with exceptional service.

“As we celebrate our tenth anniversary in 2025, we are excited to welcome clients to our new offices in Edinburgh and London, and to build relationships with clients and professional partners in the North and Midlands from a new Manchester base.”

The bank also announced that chair Simon Miller will retire in August. David Huntley, a non-executive director since 2020, has been chosen as the next chair, subject to regulatory approval.

Mr Miller said: “I have thoroughly enjoyed my term as chair of Hampden Bank. I welcome the board’s appointment of David Huntley as my successor, subject to regulatory approval.

“David joined the board not long after me as chair of the risk committee. He is a trained actuary and draws on a distinguished executive, board and consultancy career, latterly as chair of Scottish Friendly. He has a deep knowledge of the bank, its culture and ethos. I leave the bank in good hands as it prepares for its next phase of growth.”

Ms Davidson added: “As a founding shareholder, Simon believed in the vision of building a new private bank dedicated to providing exceptional client service.

“As chair, he held true to that vision and took great interest in supporting and developing our people to deliver it. I thank him on behalf of the board and all at Hampden Bank. We are delighted that David has agreed to be our next chair. I look forward to working with him to write the next chapter in the bank’s story.”

Mr Huntley said: “I believe passionately that the relentless focus on client service, which has characterised the bank in its first decade, is the cornerstone of its future growth.”