Arbuthnot shares jump on strong private banking performance

Tim Wallace
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Arbuthnot Banking Group chairman Henry Angest has overseen recent international growth
VENERABLE private bank Arbuthnot reported a healthy flow of new clients yesterday, sending the group’s shares up sharply.

The lender said its new Dubai branch was on track to break even next year as planned, helping to push profits up ahead of market expectations.

Arbuthnot survived the credit crunch in good shape, and had branched out particularly in encouraging growth in its retail lending arm, Secure Trust Bank.

The group’s shares jumped 4.4 per cent on the day.