Secure Trust Bank Full Year 2023 Earnings: Misses Expectations
Secure Trust Bank (LON:STB) Full Year 2023 Results
Key Financial Results
Revenue: UK£141.8m (up 7.0% from FY 2022).
Net income: UK£26.4m (up 28% from FY 2022).
Profit margin: 19% (up from 16% in FY 2022). The increase in margin was driven by higher revenue.
EPS: UK£1.41 (up from UK£1.11 in FY 2022).
STB Banking Performance Indicators
Cost-to-income ratio: 54.0% (down from 55.0% in FY 2022).
Non-performing loans: 4.53% (up from 1.57% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Secure Trust Bank Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 19%.
The primary driver behind last 12 months revenue was the Consumer Finance - Retail Finance segment contributing a total revenue of UK£76.3m (54% of total revenue). Explore how STB's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in the United Kingdom.
Performance of the British Banks industry.
The company's shares are down 5.6% from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Secure Trust Bank, and understanding this should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
