Edinburgh and London-based private bank Hampden & Co said its deposits rose 21% to £731 million as it reported record results for the first half of the year and the bank remained on track to report its first full-year profit in full-year 2022.

Hampden said its total income increased 47% year-on-year to £8.8 million and loans and advances rose 14% to £434 million.

“The bank benefitted from strong demand for its range of deposit, lending and day-to-day banking services,” said Hampden.

“Demand for its specialist mortgages and loans such as residential, retirement, buy-to-let, guarantor, multi-property and, most recently, self-build mortgages was most marked in London and the South East, accounting for around two thirds of total lending in H1, while lending in Scotland also remained strong.

“Lending for retirement mortgages, which allow clients in retirement to raise funds against the value of their principal property, saw growth of 80% versus H1 2021.

“The bank’s self-build mortgage product, launched just around a year ago, finished the period at £3.6 million.

“In addition, the bank’s portfolio lending service, which lets clients of wealth managers borrow against their investment portfolios, grew 40% year-on-year to £35 million.

“Overall, lending introduced by advisers and intermediaries including mortgage brokers, wealth managers, solicitors and other professionals grew 30% to c. £100 million.”

To support the bank’s work with advisers, Hampden & Co appointed Hannah Berridge as Head of Professional Partnerships in May this year.

Her focus is to further build the bank’s relationships with professional service firms and intermediaries.

Hampden & Co CEO Graeme Hartop said: “Our continued and consistent growth for the first half of 2022 is testament to our relationship-driven approach with clients and the professional advisers that serve them.

“With some private banks moving away from traditional service models, our results show that clients still want and value having access to a named banker and a tailored proposition.

“We continue to invest in growing the business and we are seeing the results of our long-term strategy in terms of client growth and reputation reflected in these very positive financials. Importantly, the bank is on track to report its first full-year profit in FY2022.”