Hampden & Co grows sharply in first full year of trading

Hampden & Co, the Edinburgh-headquartered private bank which opened in June 2015 to offer private banking facilities to high net worth clients, and their families has seen steep growth on both sides of the balance sheet.

Results for 2016, its first full year of trading show the bank, which has offices in Edinburgh and London, saw deposits grow to £143m, an increase of £113m over the year, while loans grew to £48m up from £12m at the end of 2015.

Ray Entwistle, chairman of Hampden & Co, said: “We are building the bank on the premise that, in an age impersonalised by technology but impacted by financial complexity, personal service remains an important requirement for many. We are very pleased with the progress of the bank, and the positive reaction we have received from our clients”

In terms of the bank’s overall financial performance, income grew to £1.6m (£0.2m 2015), expenditure was £7.9m, down from £8.3m in 2015, leading to a reduced operating loss of £6.3m (8.1m 2015).

Graeme Hartop, CEO of Hampden & Co, said: “These are an excellent set of results for such a young bank. Our prudent approach to banking, and the service we offer clients is already translated into an improved financial performance. The strength of the bank is fundamentally driven by the quality of our people, and as we continue to attract an excellent calibre of banker to our business, we are accelerating the pace at which we are attracting clients”.