Hampden & Co deposits rise 42% to £603m

Hampden & Co CEO Graeme Hartop (left) and COO Colin Tate

Edinburgh-based private bank Hampden & Co said on Monday its deposits rose by £180 million or 42% to £603 million in the six months to June 30, 2021,

“In the six months to 30th June 2021, income was up by £1.2 million or 24 per cent against the first half of the previous year to £6 million, deposits rose by £180 million or 42 per cent to £603 million, and lending grew by £133 million or 53 per cent to £381 million,” said the bank.

“The performance follows strong growth in 2020 and has been achieved against a back-drop of historically low interest rates and wider changes in the UK private banking sector.

“Hampden & Co’s growth demonstrates particular interest from individuals and businesses who are looking for a more personalised banking relationship.”

Hampden & Co CEO Graeme Hartop 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 added to its banking and support teams in London and Edinburgh during the first half of the year, including senior hires.

In June, Colin Tate was hired as chief operating officer (COO) from Sainsbury’s Bank where he spent over a decade in senior management roles.

Tate is working closely with CEO Hartop on the bank’s technology strategy and business change programme.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.