Edinburgh and London-based private bank Hampden & Co said it saw significant demand for personalised banking over the first half of 2024 as deposits, lending and client numbers all grew by double-digits.

Total deposits across current, call, notice and term accounts increased by 15.8% year-on-year to £895 million as total lending by the bank increased 20.4% year-on-year to £555 million “on the back of strong support from mortgage intermediaries and as interest rates stabilised.”

Client numbers grew by 15.2% year-on-year on the back of referrals from professional advisers and introductions by existing clients.

The bank registered a pre-tax profit of £4.2 million, compared to £5.1 million in the first half of 2023, “reflecting the higher cost of deposits as demand for term deposits continued.”

Total income for the first half of the year was £14.9 million. Balance sheet assets reached £1 billion for the first time during the first half of the year.

Hampden & Co CEO Graeme Hartop said: “Our results for the first half of 2024 reflect our reputation for personalised service and the value clients across the UK place on having a banker they can speak to.

“We continue to invest in the business, to add to and enhance the experience for clients. Apple Pay and Google Pay are recent additions and we will upgrade our digital banking service later in the year.”

In its results for 2023, the bank announced it was paying an inaugural dividend to shareholders as profit before tax reached £9.1 million for the full year.

In May, the bank announced that Tracey Davidson will become CEO in October 2024 when Hartop steps down after 11 years in the role. Davidson will join from Handelsbanken UK where she was Deputy CEO.