Hampden & Co, the UK private bank, has reported its first full-year profit in 2022, driven by strong income growth and client service.
The bank posted a pre-tax profit of £2.0m and total income of £23m, up 73% YoY. Post-tax, reflecting a deferred tax credit, the bank achieved a profit of £6.9m.
Lending increased 6% to a record £448m, with strong demand for its lending services, including residential, retirement interest-only and self-build mortgages, and investment portfolio lending.
Total deposits for the year rose 14% to £796m. Borrowing through introductions from professionals increased 40% to £135m.
Hampden & Co also increased its client base by 11% to 4,700 and strengthened its team with new bankers joining to support the growing number of clients and professional partners.
Graeme Hartop, CEO, Hampden & Co, said: “Hampden & Co has been built on solid foundations with a strong capital base and conservative risk appetite and has continued to perform strongly in the first few months of 2023. These foundations will provide a secure base for future growth given the clear demand for personalised banking services.”
Simon Miller, chairman, Hampden & Co, added: “The bank had a very successful 2022, achieving its first full year profit and it has come of age.
“This is the result of building strong relationships with our loyal clients, professional partners, shareholders and of course the efforts of our very capable team.”
