Hampden & Co delivers first full year profit

  • Total income for 2022 up 73 per cent year-on-year to £23 million, with the bank registering a pre-tax profit of £2.0 million
  • Total deposits rose by 14 per cent to £796 million; total lending increased 6 per cent to £448 million
  • Number of clients increased 11% to 4,700

Hampden & Co delivered its first full year profit in 2022, driven by strong income growth and client service. Total income for the year was £23 million, up 73 per cent year-on-year, with the bank posting a pre-tax profit of £2.0 million. Post-tax, reflecting a deferred tax credit, the bank achieved a profit of £6.9 million.

Total deposits for the year rose 14 per cent to £796 million. Lending increased 6 per cent to a record £448 million.

The bank saw strong demand for its lending services, including residential, retirement interest-only and self-build mortgages and investment portfolio lending. Borrowing through introductions from professionals, including wealth managers, solicitors, accountants and mortgage introducers increased 40 per cent to £135 million.

Hampden & Co continued to attract high-quality clients with the number up by 11% to 4,700 in 2022. The bank further strengthened its team with new bankers joining to support the growing number of clients and professional partners. With client retention rates remaining very high and a conservative balance sheet, it has been unaffected during the recent banking market volatility.

Graeme Hartop, CEO said: “Hampden & Co has been built on solid foundations with a strong capital base and conservative risk appetite and has continued to perform strongly in the first few months of 2023. These foundations will provide a secure base for future growth given the clear demand for personalised banking services.”

Simon Miller, Chairman, Hampden & Co, said: “The bank had a very successful 2022, achieving its first full year profit and it has come of age. This is the result of building strong relationships with our loyal clients, professional partners, shareholders and of course the efforts of our very capable team.”