First new UK private bank in 30 years turns first profit in milestone year

04/04/2023
Hampden & Co CEO Graeme Hartop (Photo: Stewart Attwood)

HAMPDEN & Co delivered its first full year profit in 2022, driven by strong income growth and client service. Total income for the year was £23 million, up 73 per cent year-on-year, with the bank posting a pre-tax profit of £2.0 million. Post-tax, reflecting a deferred tax credit, the bank achieved a profit of £6.9 million. 

Total deposits for the year rose 14 per cent to £796 million. Lending increased 6 per cent to a record £448 million. 

The bank saw strong demand for its lending services, including residential, retirement interest-only, and self-build mortgages, and investment portfolio lending. Borrowing through introductions from professionals, including wealth managers, solicitors, accountants, and mortgage introducers increased 40 per cent to £135 million.

Hampden & Co continued to attract high-quality clients, with the number up by 11% to 4,700 in 2022. The bank further strengthened its team with new bankers joining to support the growing number of clients and professional partners. With client retention rates remaining very high and a conservative balance sheet, it has been unaffected during the recent banking market volatility.

Graeme Hartop, CEO 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, said: “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.”

About Hampden & Co

With offices Edinburgh and London, Hampden & Co offers a highly personal form of banking to clients across the UK.

Hampden & Co achieved a Net Promoter Score (NPS) of 73 in 2022. 

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