trending Market Intelligence /marketintelligence/en/news-insights/trending/jZcD8BtjQMqCcse9PwxM3A2 content esgSubNav
In This List

Secure Trust Bank exits unsecured personal loan market

Blog

Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


Secure Trust Bank exits unsecured personal loan market

Secure Trust Bank Plc sold an unsecured personal loan portfolio to Alpha Credit Solutions 8 Sàrl, a company owned by AnaCap Financial Partners LLP's AnaCap Credit Opportunities III LP, marking the British bank's full exit from the unsecured personal loan market.

Net proceeds from the sale are expected to total £36.6 million and will be used for general corporate purposes. The profit arising from the sale of the portfolio is expected to be about £500,000, according to the bank.

The transfer of the portfolio to a third-party administrator appointed by the buyer is expected to be completed by March 14, 2018. Until then, the portfolio will remain under Secure Trust Bank's administration.

As of June 30, the net book value of the portfolio was £48.5 million.