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Secure Trust Bank proposes higher dividend despite YOY decline in FY'17 profit

U.K.-based Secure Trust Bank Plc proposed a final dividend of 61 pence per share for 2017 despite its full-year profit attributable to equity holders of the company dropping to £23.8 million from £137.5 million in 2016.

The final dividend, payable May 25 to shareholders on the register April 27, is on top of an interim dividend of 18 pence per share already paid in September 2017. This brings the total dividend for the year to 79 pence per share, up from 75 pence per share a year earlier.

EPS for the year stood at 127.3 pence, lower than 748.7 pence in 2016.

Net interest income rose year over year to £122.6 million from £114.8 million in 2017, while net fees and commissions income ticked up to £14.9 million from £14.5 million.

Net impairment losses on loans and advances to customers stood at £36.9 million, higher on a yearly basis from £30.3 million.

The bank's common equity Tier 1 ratio stood at 16.5% at the end of 2017, compared to 18.0% a year earlier.

CEO Paul Lynam said the bank aims to be active in consumer credit, small- and medium-sized enterprises financing and mortgage lending in 2018.