Deposits from clients rose by 39% to £696 million (2020: £501m), while loans and advances were up 29% to £422m (2020: £326m). Total income for the year increased 29% to £13.2m (2020: £10.2m), the highest level since the bank was launched in 2015.

The bank benefitted from strong demand for its tailored lending solutions, which include residential, retirement, family guarantor, multi-property and buy-to-let mortgages. In 2021, Hampden & Co extended its specialist offerings, complementing its new retirement mortgage service with the launch of a self-build mortgage and financing for eco-friendly home and renewable energy initiatives.

Demand was most marked in London and the South East, accounting for around two thirds of total lending. The bank’s traditional Scottish markets also registered strong client and lending growth. In addition, lending via referrals from mortgage intermediaries rose over 38%.

Graeme Hartop, CEO, Hampden & Co, said: “The bank performed well in 2021 and demonstrated agility and resilience to help clients face the challenges of the pandemic. The rise in interest rates from the historic lows of the last few years will help us to achieve profitable scale. We see signs of further rates increases in 2022 in response to inflationary pressure.

“Our purpose is to help clients achieve their aspirations. At a time when many banks focus on selling products and direct clients online or to call centres, we provide a bespoke banking service tailored to the needs of our clients, their families, and associated businesses. It’s encouraging to see this approach translate to strong growth, with record numbers of new clients joining us from across the UK.”

Simon Miller, chairman, Hampden & Co, added: “Hampden & Co has established itself as one of the most highly-rated private banks in the UK. The bank’s group of cornerstone and larger shareholders are staunch in their support and they have committed to invest £8m in the first half of 2022. This will support the continued growth of the business.”

Mr Hartop continued: “Our focus exclusively on banking as opposed to investment management has allowed us to develop strong, collaborative relationships with wealth managers, mortgage intermediaries and other professional advisers. Many new clients have come to us following introductions from their accountant, solicitor or wealth manager. The bank scored very highly in a recent survey of all clients and many of our existing clients continue to recommend us.”

Looking ahead to the remainder of 2022, he added: “To support our clients, we are investing in our team and in our core banking platform to further develop our high quality, relationship-driven service.”