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Secure Trust Bank CEO bullish on Brexit

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Secure Trust Bank CEO bullish on Brexit

Secure TrustBank Plc CEO Paul Lynam indicated that Britain's decision to leavethe EU would open up opportunities for the lender, including a chance toparticipate in acquisitions.

Lynam believes larger banks could become more restrictive intheir lending after the Brexit voteand that such a move would make it hard for newer nonbank lenders to sustaintheir growth and could prompt them to consider selling themselves, The Daily Telegraph reported July 19.

"For somebody as well-capitalized and well-funded as usthat potentially presents an interesting opportunity," Lynam reportedlysaid. The bank's first-half profit and totalcomprehensive income attributable to equity holders was £129.1 million, up from£12.9 million in the same period in 2015.

The Telegraphnoted that Lynam also expects Britain's separation from the EU to allow theBritish government to "level the playing field" between challengerbanks and their bigger counterparts. The executive said the U.K. has beenurging for a more proportionate approach to the regulation of small banks buthas been unable to act as it operates under European Banking Authoritydirectives. "Once the Bank of England and the government are no longerbound by EBA directives they will be able to create a more level playing fieldin respect of capital, if that's what they want to do," Lynam said.