Private bank Hampden & Co has praised its "strong relationships" and growing its adviser network following 42% increase in revenue for the first half of the year.
The Edinburgh headquartered private bank said it’s first half has increased “year-on-year” with its revenue increasing by £1.2m from £6m to £7.2m for the first half of 2021 compared with the previous year.
The firm reported its deposits rose by 42% £180m from £495m to £603m, increasing by £180m and its lending grew by 53% from £248m to £381m rising by £133m for the first half of the year compared with the previous years first half
It continued to grow following its previous growth in 2020 during a period of low interest rates and changes in the UK private banking sector.
Graeme Hartop chief executive at Hampden & Co said: “We have continued to experience strong demand for our accessible and flexible approach to banking, particularly during lockdown when clients valued having a banker they can call on.
“With our focus exclusively on banking, we have also been able to grow and strengthen our relationships with other advisers. The addition last year of our new retirement mortgage service has proved very popular with advisers and their clients as they seek effective solutions to managing finances in later life. This has been reflected in our performance in the first half.”
In April this year, the bank launched self-build mortgages for clients who are acquiring land and building a new residential home, or who are “significantly” refurbishing an existing home.
Hampden & Co hired more support team staff to its London and Edinburgh offices during the first half of the year, including senior hires.
In June, Colin Tate was hired as chief operating officer (COO), joining from Sainsbury’s Bank where he spent more than a decade in senior management roles.
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