Secure Trust Bank taps Labour donor tied to cronyism scandal as new boss June 17, 2025 An ex-Treasury director who was at the heart of Labour’s “cronyism” scandal has been tapped to take the helm at specialist lender Secure Trust Bank. Ian Corfield, who also spent nearly a decade as chief commercial officer of New Day, will replace retiring chief executive David McReadie. Corfield stepped down from his civil servant role [...]
Sofas and season tickets: Inside the world of retail finance May 16, 2025 Retailing financing is on the up and as big banks steer away from the market, specialist lenders are cashing in. Fresh research from the finance and leasing association (FLA) showed consumer finance grew by 13 per cent in March 2025, compared to the year prior. The first quarter of 2025 saw a six per cent [...]
Secure Trust bolsters lending as it ‘monitors’ global turbulence May 15, 2025 Specialist lender Secure Trust Bank delivered an upbeat first-quarter trading statement on Thursday with growth across lending and deposits. The London-listed lender posted a 3.2 per cent quarterly increase in its net lending to £3.7bn. This was up 10.5 per cent from the first quarter of 2024. The firm said its business finance and consumer [...]
Treasury refused permission to intervene in motor finance battle February 17, 2025 The Supreme Court has rejected the Treasury's application to intervene in the upcoming hearing over the motor finance scandal
Secure Trust Bank slashes profit expectations amid motor finance ruling November 1, 2024 Secure Trust Bank has slashed profit expectations for this year due to the performance of its motor finance business. In a trading update today, the London-listed lender said that following the Financial Conduct Authority’s motor finance decision, it restored vehicle finance loan collections activity to normal levels. Meanwhile, early arrears in vehicle finance are at [...]
Secure Trust Bank upgrades cost-cutting target as FCA review weighs on earnings August 14, 2024 Secure Trust Bank has ramped up cost-cutting efforts, while a review by the City regulator affecting its vehicle finance arm weighed on the firm's earnings in the first half of 2024.
Secure Trust Bank shrugs off economic headwinds as it recovers from 2023 May 16, 2024 Secure Trust Bank has reported swelling loan and deposit books as the lender aims to reach £4bn in net lending and grow its profits after a challenging 2023.
Secure Trust Bank hails record lending growth despite 24 per cent profit drop March 21, 2024 Secure Trust Bank has posted record lending growth in 2023, while annual profit fell due to one-off charges.