MERCHANT banking group
In a trading update for its third quarter,
Its year-to-date net interest margin remained at 7.8 per cent.
The update comes after a bruising start to the year. At its half year results in March, the firm set aside £100m to cover bad loans from legal-finance specialist Novitas, dragging its adjusted operating profits down 90 per cent to £12.6m.
Fellow merchant bank Arbuthnot also delivered a trading statement for the four months of the year, confirming that it was continuing to benefit from the
(c) 2023 City A.M., source