Income Statement Secure Trust Bank PLC

Equities

STB

GB00B6TKHP66

Banks

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04-27	Vanquis Banking Group declines to challenge FCA's motor finance scheme	AN
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Published financial data: SECURE TRUST BANK PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Interest Income On Loans	180M	203M	304M	366M	302M
Interest Income, Total	180M	203M	304M	366M	302M
Interest On Deposits	29.2M	50.4M	136M	181M	151M
Interest Expense, Total	29.2M	50.4M	136M	181M	151M
Net Interest Income	151M	153M	168M	185M	151M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	100K	1.1M	300K	100K	-
Total Other Non Interest Income	13.7M	17M	17.2M	19M	14.1M
Non Interest Income, Total	13.8M	18.1M	17.5M	19.1M	14.1M
Revenues Before Provison For Loan Losses	165M	171M	185M	204M	165M
Provision For Loan Losses	4.5M	38.2M	43.2M	61.9M	31.4M
Total Revenues	160M	132M	142M	142M	134M
Salaries And Other Employee Benefits	55.2M	55.7M	56.9M	-	-
Stock-Based Compensation (IS)	900K	1.8M	1.1M	2.3M	2M
Amort. of Goodwill & Intang. Assets	1.5M	1.4M	1.2M	-	-
Occupancy Expense	2.6M	2.6M	2.3M	-	-
Selling General & Admin Expenses, Total	43.8M	40.6M	40.9M	800K	-
Total Other Non Interest Expense	100K	300K	-500K	99.51M	72.5M
Non Interest Expense, Total	104M	102M	102M	103M	74.5M
EBT, Excl. Unusual Items	56M	30.1M	39.9M	39.5M	59.3M
Restructuring Charges	-	-	-	-1.5M	-
Asset Writedown	-	-	-	-400K	-
Other Unusual Items	-	-	-6.5M	-8.4M	-
EBT, Incl. Unusual Items	56M	30.1M	33.4M	29.2M	59.3M
Income Tax Expense	10.4M	9.4M	9.7M	9.5M	14.7M
Earnings From Continuing Operations	45.6M	20.7M	23.7M	19.7M	44.6M
Earnings Of Discontinued Operations	-	13M	600K	-	-27M
Net Income to Company	45.6M	33.7M	24.3M	19.7M	17.6M
Net Income - (IS)	45.6M	33.7M	24.3M	19.7M	17.6M
Net Income to Common Incl Extra Items	45.6M	33.7M	24.3M	19.7M	17.6M
Net Income to Common Excl. Extra Items	45.6M	20.7M	23.7M	19.7M	44.6M
Per Share Items
Net EPS - Basic	2.45	1.8	1.3	1.03	0.94
Basic EPS - Continuing Operations	2.45	1.11	1.26	1.03	2.39
Basic Weighted Average Shares Outstanding	18.64M	18.67M	18.75M	19.06M	18.68M
Net EPS - Diluted	2.39	1.8	1.3	1.01	0.89
Diluted EPS - Continuing Operations	2.39	1.11	1.26	1.01	2.26
Diluted Weighted Average Shares Outstanding	19.05M	19.29M	19.27M	19.42M	19.77M
Normalized Basic EPS	1.88	1.01	1.33	1.3	1.98
Normalized Diluted EPS	1.84	0.98	1.29	1.27	1.87
Dividend Per Share	0.61	0.45	0.32	0.34	0.36
Payout Ratio	26.1	31.75	34.57	26.4	36.36
Supplemental Items
Effective Tax Rate - (Ratio)	18.57	31.23	29.04	32.53	24.79
Current Domestic Taxes	10.7M	8.5M	7.9M	8.7M	9.7M
Total Current Taxes	10.7M	8.5M	7.9M	8.7M	9.7M
Deferred Domestic Taxes	-300K	1.8M	1.2M	800K	200K
Total Deferred Taxes	-300K	1.8M	1.2M	800K	200K
Normalized Net Income	35M	18.81M	24.94M	24.69M	37.06M
Supplemental Operating Expense Items
Stock-Based Comp., Other (Total)	800K	1.6M	1.1M	2.3M	2M
Total Stock-Based Compensation	800K	1.6M	1.1M	2.3M	2M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	303M	417M	400M	469M	565M
Investment Securities, Total	-	-	-	-	1M
Trading Asset Securities, Total	300K	2.9M	21.6M	7.5M	7.5M
Total investments	300K	2.9M	21.6M	7.5M	8.5M
Gross Loans	2.7B	3.15B	3.59B	3.94B	3.48B
Allowance For Loan Losses	-67.5M	-78M	-88.1M	-112M	-45.5M
Other Adjustments to Gross Loans	-106M	-152M	-182M	-215M	-138M
Net Loans	2.53B	2.92B	3.32B	3.61B	3.3B
Gross Property Plant And Equipment	21M	18.9M	22.5M	23.4M	22.6M
Accumulated Depreciation	-9.5M	-7.1M	-9.9M	-11.9M	-10.8M
Net Property Plant And Equipment	11.5M	11.8M	12.6M	11.5M	11.8M
Goodwill	1M	1M	1M	1M	1M
Other Intangibles, Total	5.9M	5.6M	4.9M	4M	4.1M
Investment in Real Estate	4.7M	-	-	-	24.1M
Other Receivables	1.2M	1.7M	2.5M	2.2M	4.3M
Restricted Cash	8M	3.7M	5M	-	-
Other Current Assets, Total	8M	7M	6.1M	6.1M	397M
Deferred Tax Assets Long-Term (Collected)	6.9M	5.5M	4.3M	3.3M	3.6M
Other Long-Term Assets, Total	4.8M	4.7M	4.4M	3.6M	600K
Total Assets	2.89B	3.38B	3.78B	4.12B	4.32B
Liabilities
Accounts Payable, Total	-	-	-	-	-
Accrued Expenses, Total	13M	10M	11.8M	9.4M	11M
Interest Bearing Deposits	2B	2.34B	2.35B	2.44B	2.74B
Non-Interest Bearing Deposits	102M	178M	521M	805M	770M
Total Deposits	2.1B	2.51B	2.87B	3.24B	3.51B
Short-Term Borrowings	900K	3.7M	20.6M	6.6M	4.8M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	800K	700K	900K	1.1M	1.1M
Long-Term Debt	442M	452M	495M	459M	299M
Long-Term Leases	2.3M	1.4M	1.4M	700K	3.3M
Current Income Taxes Payable	-	800K	-	-	-
Accrued Interest Payable	-	-	-	-	-
Other Current Liabilities - (Bank / Utility Template)	3.3M	2.5M	-	-	-
Deferred Tax Liability Non-Current	-	-	-	-	-
Other Non Current Liabilities	18.3M	68.1M	31.9M	34.4M	112M
Total Liabilities	2.58B	3.05B	3.43B	3.76B	3.94B
Common Stock, Total	7.5M	7.5M	7.6M	7.6M	7.6M
Additional Paid In Capital	82.2M	82.2M	83.8M	84M	84.2M
Retained Earnings	212M	238M	255M	271M	284M
Treasury Stock	-	-	-1.4M	-2.2M	-1.9M
Comprehensive Income and Other	1M	-300K	-300K	-	-
Total Common Equity	302M	327M	344M	360M	374M
Total Equity	302M	327M	344M	360M	374M
Total Liabilities And Equity	2.89B	3.38B	3.78B	4.12B	4.32B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	18.65M	18.69M	19.02M	19.07M	19.1M
ECS Total Common Shares Outstanding	18.65M	18.69M	19.02M	19.07M	19.1M
Book Value / Share	16.22	17.49	18.11	18.9	19.6
Tangible Book Value	296M	320M	339M	356M	369M
Tangible Book Value Per Share	15.85	17.14	17.8	18.64	19.33
Tangible Book Value Per Share (As Reported)	-	-	17.8	18.64	19.73
Average Assets	-	-	-	-	-
Average Loans	2.37B	2.7B	3.1B	3.41B	3.18B
Total Debt	446M	457M	518M	468M	309M
Deposits at Interest - Cash	75.3M	50.5M	53.5M	24M	31.7M
Net Debt	142M	37.6M	96.1M	-9M	-264M
Full Time Employees	933	940	879	915	772

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	45.6M	33.7M	24.3M	19.7M	17.6M
Depreciation, Depletion & Amortization	2M	1.9M	1.6M	2M	1.9M
Amortization of Goodwill and Intangible Assets - (CF)	200K	200K	-	-	-
Total Depreciation, Depletion & Amortization	2.2M	2.1M	1.6M	2M	1.9M
Amortization of Deferred Charges, Total	1.3M	1.2M	1.2M	1.4M	1.2M
Gain (Loss) on Sale of Loans & Receivables - (CF)	1.4M	-8.9M	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-	1.4M	200K	-	-
(Gain) Loss on Sale of Investments - (CF)	-1.5M	-	-	-	-
Total Asset Writedown	-400K	-	-	-	-
Provision for Credit Losses	4.5M	39M	43.2M	61.9M	58M
Stock-Based Compensation (CF)	1M	2M	1.1M	2.3M	2M
Change in Other Net Operating Assets (Collected)	-253M	-454M	-482M	-359M	-108M
Other Operating Activities	-1.8M	4.3M	8.2M	9.9M	19.8M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	-200M	-379M	-403M	-261M	-7.7M
Capital Expenditure	-200K	-2.7M	-2.7M	-1M	-1.6M
Sale of Property, Plant, and Equipment	-	-	-	-	1.9M
Divestitures	-	-	-	-	-
Purchase / Sale of Intangible Assets	-1.1M	-	-	-	-
Sale (Purchase) of Real Estate Properties (Collected)	-	3.3M	-	-	-1.1M
Investment in Marketable and Equity Securities, Total	0	0	-	-	-1M
Net (Increase) Decrease in Loans Originated / Sold - Investing	60.4M	81.9M	-	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	59.1M	82.5M	-2.7M	-1M	-1.8M
Long-Term Debt Issued, Total	114M	7M	70M	126M	250M
Total Debt Issued	114M	7M	70M	126M	250M
Long-Term Debt Repaid, Total	-900K	-1M	-30.6M	-161M	-408M
Total Debt Repaid	-900K	-1M	-30.6M	-161M	-408M
Issuance of Common Stock	-	-	1.7M	200K	200K
Repurchase of Common Stock	-	-300K	-1.2M	-1.4M	-200K
Common Dividends Paid	-11.9M	-10.7M	-8.4M	-5.2M	-6.4M
Common & Preferred Stock Dividends Paid	-11.9M	-10.7M	-8.4M	-5.2M	-6.4M
Net Increase (Decrease) in Deposit Accounts - (CF)	111M	411M	357M	373M	265M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	212M	406M	389M	331M	100M
Net Change in Cash	70.9M	110M	-16.6M	68.7M	90.8M
Supplemental Items
Cash Interest Paid	-	-	-	-	65.2M
Cash Income Tax Paid (Refund)	12.6M	7M	8.6M	8.8M	12M
Net Debt Issued / Repaid	114M	6M	39.4M	-35.6M	-158M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.64	0.66	0.66	0.5	1.06
Return On Equity %	16	6.58	7.07	5.59	12.14
Return on Common Equity	16	6.58	7.07	5.59	12.14
Shareholders Value Added	11.6M	-3.86M	-15.95M	-21.66M	-26.49M
Margin Analysis
SG&A Margin	63.46	74.64	70.59	0.56	-
Net Interest Income / Total Revenues %	94.19	115.17	118.12	130.12	112.93
EBT Excl. Non-Recurring Items Margin %	34.98	22.72	28.14	27.8	44.32
Income From Continuing Operations Margin %	28.48	15.62	16.71	13.86	33.33
Net Income Margin %	28.48	25.43	17.14	13.86	13.15
Net Avail. For Common Margin %	28.48	15.62	16.71	13.86	33.33
Normalized Net Income Margin	21.86	14.2	17.59	17.37	27.7
Asset quality
Nonperforming Loans / Total Loans %	5.77	1.49	4.3	4.74	3.64
Nonperforming Loans / Total Assets %	5.4	1.39	4.08	4.54	2.93
Nonperforming Assets / Total Assets %	5.4	1.39	4.08	4.54	2.93
NPAs / Loans and OREO	5.77	1.49	4.3	4.74	3.64
NPAs / Equity	51.55	14.38	44.73	51.79	33.82
Allowance for Credit Losses / Net Charge-offs %	339.2	275.62	-	-	-
Allowance for Credit Losses / Nonperforming Loans %	43.3	165.96	57.17	59.88	35.94
Allowance for Credit Losses / Total Loans %	2.5	2.48	2.46	2.84	1.31
Net Charge-offs / Total Average Loans %	0.84	1.05	-	-	-
Provision for Loan Losses / Net Charge-offs %	22.61	134.98	-	-	-
Interest Income / Average Assets	-	-	-	-	-
Interest Expense / Average Assets	-	-	-	-	-
Net Interest Income / Average Assets	-	-	-	-	-
Non Interest Income / Average Assets	-	-	-	-	-
Non Interest Expense / Average Asset	-	-	-	-	-
Capital And Funding
Total Average Common Equity / Total Average Assets %	10.28	10.04	9.37	8.93	8.71
Total Average Equity / Total Average Assets %	10.28	10.04	9.37	8.93	8.71
Total Equity + Allowance for Loan Losses / Total Loans %	13.68	12.86	12.07	12	12.06
Gross Loans / Total Deposits %	128.56	125.25	124.85	121.28	99.15
Net Loans / Total Deposits %	120.32	116.1	115.44	111.21	93.91
Tier 1 Capital Ratio %	14.5	14	12.7	12.3	12.9
Total Capital Ratio %	16.8	16.2	15	14.6	15.2
Core Tier 1 Capital Ratio	14.5	14	12.7	12.3	12.9
Tier 2 Capital Ratio	2.25	2.14	2.25	2.25	2.25
Coverage Ratio	43.3	165.96	57.17	59.88	35.94
Interbank Ratio	12.87	12.61	13.36	222.22	623.73
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	2.92	1.6	1.24	1.16	1.39
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	-0.07	12.04	9.76	10.39	10.05
Non Interest Income, 1 Yr. Growth %	14.05	27.46	-3.32	9.14	-22.53
Provision For Loan Losses, 1 Yr. Growth %	-91.23	664	13.09	43.29	35.34
Total Revenues, 1 Yr. Growth %	43.33	-8.87	7.02	0.22	1.13
Earnings From Cont. Operations, 1 Yr. Growth %	196.1	-33.01	14.49	-25.38	2.76
Net Income, 1 Yr. Growth %	196.1	-26.1	-27.89	-18.93	-10.66
Normalized Net Income, 1 Yr. Growth %	193.19	-27.12	32.56	-4.59	-2.63
Diluted EPS Before Extra, 1 Yr. Growth %	195.56	-33.14	14.01	-25.99	0.94
Dividend Per Share, 1 Yr. Growth %	38.86	-26.19	-28.6	4.97	5.03
Gross Loans, 1 Yr. Growth %	6.24	16.48	13.84	9.76	-11.58
Allowance For Loan Losses, 1 Yr. Growth %	-18.38	15.56	12.95	26.9	-59.3
Net Loans, 1 Yr. Growth %	7.28	15.37	13.56	8.84	-8.67
Non Performing Loans, 1 Yr. Growth %	9.63	-69.85	227.87	21.16	-32.19
Non Performing Assets, 1 Yr. Growth %	9.63	-69.85	227.87	21.16	-32.19
Total Assets, 1 Yr. Growth %	8.44	17.13	11.78	8.96	4.84
Total Deposits, 1 Yr Growth %	5.56	19.56	14.2	12.99	8.16
Tangible Book Value, 1 Yr. Growth %	13.7	8.39	5.88	4.99	3.85
Common Equity, 1 Yr. Growth %	13	8.1	5.55	4.64	3.83
Total Equity, 1 Yr. Growth %	13	8.1	5.55	4.64	3.83
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	1.84	0.56	10.9	10.08	-5.02
Non Interest Income, 2 Yr. CAGR %	-17.14	22.31	11.01	2.73	-10.24
Provision For Loan Losses, 2 Yr. CAGR %	-62.85	-13.71	193.94	27.3	-14.74
Total Revenues, 2 Yr. CAGR %	9.76	8.91	-1.25	3.56	-2.86
Earnings From Cont. Operations, 2 Yr. CAGR %	21.09	15.94	-12.42	-2.45	29.98
Net Income, 2 Yr. CAGR %	21.09	47.93	-27	-23.54	-14.9
Normalized Net Income, 2 Yr. CAGR %	20.29	25.54	-1.71	14.56	19.68
Diluted EPS Before Extra, 2 Yr. CAGR %	19.95	16.99	-12.69	-4.36	28.32
Dividend Per Share, 2 Yr. CAGR %	74.79	1.24	-27.4	-13.43	5
Gross Loans, 2 Yr. CAGR %	0.91	11.25	15.15	11.78	-1.48
Allowance For Loan Losses, 2 Yr. CAGR %	5.54	-2.88	14.24	19.72	-28.14
Net Loans, 2 Yr. CAGR %	1.63	11.25	14.46	11.18	-0.29
Non Performing Loans, 2 Yr. CAGR %	13.14	-42.51	-0.58	99.31	-9.36
Non Performing Assets, 2 Yr. CAGR %	13.14	-42.51	-0.58	99.31	-9.36
Total Assets, 2 Yr. CAGR %	3.72	12.7	14.42	10.36	6.88
Total Deposits, 2 Yr CAGR %	2.03	12.34	16.85	13.6	10.55
Tangible Book Value, 2 Yr. CAGR %	9.8	11.01	7.04	5.43	4.42
Common Equity, 2 Yr. CAGR %	9.09	10.53	6.73	5.09	4.24
Total Equity, 2 Yr. CAGR %	9.09	10.53	6.73	5.09	4.24
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	4.09	1.62	3.54	10.73	-0.33
Non Interest Income, 3 Yr. CAGR %	-8.31	-3.43	13.09	10.39	-7.99
Provision For Loan Losses, 3 Yr. CAGR %	-48.21	5.43	-5.57	131.33	-6.33
Total Revenues, 3 Yr. CAGR %	10.33	-0.1	8.28	-0.76	0.33
Earnings From Cont. Operations, 3 Yr. CAGR %	17.24	-12.69	15.45	-13.93	29.16
Net Income, 3 Yr. CAGR %	17.24	2.71	16.42	-24.4	-19.47
Normalized Net Income, 3 Yr. CAGR %	17.3	-8.04	27.83	-1.47	25.36
Diluted EPS Before Extra, 3 Yr. CAGR %	16.63	-12.66	15.99	-15.12	26.72
Dividend Per Share, 3 Yr. CAGR %	-9.71	31.13	-9.88	-17.91	-7.67
Gross Loans, 3 Yr. CAGR %	6.6	5.85	12.1	13.33	3.38
Allowance For Loan Losses, 3 Yr. CAGR %	0.2	8.78	2.13	18.32	-16.45
Net Loans, 3 Yr. CAGR %	7.64	6.02	12.01	12.56	4.12
Non Performing Loans, 3 Yr. CAGR %	36.35	-27.2	2.72	6.19	39.14
Non Performing Assets, 3 Yr. CAGR %	36.35	-27.2	2.72	6.19	39.14
Total Assets, 3 Yr. CAGR %	5.69	8.01	12.39	12.57	8.49
Total Deposits, 3 Yr CAGR %	4.41	7.57	12.96	15.55	11.75
Tangible Book Value, 3 Yr. CAGR %	9.16	9.33	9.22	6.36	4.9
Common Equity, 3 Yr. CAGR %	8.45	8.76	8.78	6.03	4.67
Total Equity, 3 Yr. CAGR %	8.45	8.76	8.78	6.03	4.67
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	10.27	5.89	4.61	4.93	0.03
Non Interest Income, 5 Yr. CAGR %	-0.98	3.55	-0.45	-1.02	3.11
Provision For Loan Losses, 5 Yr. CAGR %	-28.03	2.66	5.92	13.68	-9.35
Total Revenues, 5 Yr. CAGR %	13.85	6.59	3.53	1.35	3.68
Earnings From Cont. Operations, 5 Yr. CAGR %	26.28	0.79	-3.49	-8.73	23.7
Net Income, 5 Yr. CAGR %	-19.81	7.2	-3	-8.73	2.71
Normalized Net Income, 5 Yr. CAGR %	23.62	3.78	2.83	0.41	25.43
Diluted EPS Before Extra, 5 Yr. CAGR %	25.37	0.82	-3.48	-9.43	22.74
Dividend Per Share, 5 Yr. CAGR %	-4.02	-10.61	-17.25	11.06	-4.2
Gross Loans, 5 Yr. CAGR %	12.5	11.83	9.95	8.19	6.46
Allowance For Loan Losses, 5 Yr. CAGR %	18.9	14.35	5.6	13.03	-11.26
Net Loans, 5 Yr. CAGR %	13.88	12.81	10.32	8.05	6.92
Non Performing Loans, 5 Yr. CAGR %	17.95	-12.63	20.17	8.92	-2.3
Non Performing Assets, 5 Yr. CAGR %	17.95	-12.63	20.17	8.92	-2.3
Total Assets, 5 Yr. CAGR %	13.83	12.31	9.1	8.94	10.15
Total Deposits, 5 Yr CAGR %	12.8	11.14	9.22	9.94	11.99
Tangible Book Value, 5 Yr. CAGR %	5.42	6.06	8.31	7.72	7.27
Common Equity, 5 Yr. CAGR %	5.08	5.59	7.76	7.25	6.94
Total Equity, 5 Yr. CAGR %	5.08	5.59	7.76	7.25	6.94