City of London revenues jump

Michael Bow
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Financial services group City of London yesterday said a 169 per cent rise in half year revenues had lifted its profits by a quarter.

The firm, which recently raised £1.3m through a share placing, lends to small businesses and said the pullback of traditional bank lending had been a boon for the firm. Chief executive Eric Anstee said the firm now had a platform for its ongoing development into a “traditional merchant bank model”.