Strong growth at UK private bank Hampden & Co with record H1 results

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  • Hampden & Co reports record H1 results, with total income up 47 per cent YoY to £8.8m
  • Deposits up 21 per cent YoY to £731m; loans and advances up 14 per cent to £434m
  • Strong growth in key lending products including portfolio lending (up 40 per cent) and retirement mortgages (up 80 per cent)
  • Bank on track to report its first full-year profit in FY2022

London, Edinburgh, 22 August 2022 - UK private bank Hampden & Co has reported record H1 results for the first half of 2022. Total income increased 47 per cent year-on-year to £8.8 million, with deposits up 21 per cent to £731 million and loans and advances up 14 per cent to £434 million. The bank benefitted from strong demand for its range of deposit, lending and day-to-day banking services.

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.

Graeme Hartop, CEO, Hampden & Co, 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.”

Simon Miller, Chairman, Hampden & Co, said: “The successful results can be attributed to the commitment of supportive shareholders, a talented management team and dedicated employees who have built a highly rated, client-led bank.”

About Hampden & Co

With offices in London and Edinburgh, Hampden & Co offers a highly personal form of banking to clients across the UK and provides approachable, accessible expertise delivered through loyal, long-lasting client relationships.

Hampden & Co achieved a Net Promoter Score (NPS) of 73 in 2022.