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23 hours ago · Specialist lender Secure Trust Bank (STB) has issued a profit warning due to the performance of its vehicle finance business. The pause of collections activity following the FCA’s Borrowers in ...
23 hours ago · Secure Trust Bank also said in the trading update that it had seen net lending increase by 0.5 per cent over the last quarter to £3.44bn, while deposits increased 3.2 per cent to £3.14bn.
23 hours ago · The group said its vehicle finance business was impacted by a temporary pause in collections following the FCA's borrowers in financial difficulty (BIFD) review, leading to a higher default rate. Although collections had resumed, the excess defaulted balances were likely to affect results into 2025.
23 hours ago · (Alliance News) - Secure Trust Bank PLC on Friday warned that underlying continuing pretax profit will be "materially" below market expectations. In response, Secure Trust shares were down 13% to ...
15 hours ago · November 01, 2024 at 03:46 am EDT. (Reuters) - Secure Trust Bank expects its annual profit to fall materially below market expectations as early arrears in its vehicle finance business hit a three-year low, it said on Friday. "We are disappointed that it will take longer than expected to recover value from the excess level of defaulted Vehicle ...
4 days ago · The Court of Appeal has opened the door to billions of pounds worth of claims for mis-sold motor finance after finding dealers in breach of their fiduciary duty to customers. As a result, the lenders have been ordered to repay the commission to the borrowers. Law firms and claims management companies have been busy attracting clients and court ...
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23 hours ago · It's always worth trying to call your provider first to see if it can help, but if not, you can use free complaints tool Resolver. The tool helps you manage your complaint, and if the company doesn't play ball, it also helps you escalate your complaint to the free Financial Ombudsman Service.
