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May 2017

The latest news from Hampshire Trust Bank

The General Election on 8 June and Brexit looming on the horizon thereafter creates a prolonged period of uncertainty for all businesses. We must hope that the election provides clarity and stability for the UK Government of whatever hue, from which the EU negotiations can be progressed.

Our customers are mostly UK SMEs. For them, the politics is largely irrelevant compared with the need to create conditions which enable their businesses to thrive and prosper. We all need this - these businesses are the engine room of the UK economy – as it is their success which ensures future prosperity for us all.

According to recent IHS Markit data, activity in the services sector, the UK's biggest sector, has rebounded. This follows growth in the manufacturing and constructions sectors, which is positive to see.

Indeed, IHS Markit predicts that GDP will grow at a rate of 0.6% at the start of the second quarter and 0.4% for the second quarter as a whole. Let's hope this is a sign of things to come and that the economy continues its recent positive trajectory.

Inflation in prices of food, fuel and energy represent current challenges. However, I am quietly confident that the UK economy will remain a good place to do business despite the best efforts of our politicians.

Mark Sismey-Durrant

Chief Executive Officer at Hampshire Trust Bank

View from the top

In the next couple of months we will be releasing our annual UK SME Savings Tracker research, which gives a snapshot of the business savings landscape.

Last year, the research showed that on the run up to the EU Referendum, UK SMEs were building up their cash reserves, with the average business savings account balance standing at £556,000, a 104% increase on 2015.

Your opinion

On the run up to the General Election, we are keen to hear what you believe is the biggest concern for UK SMEs and what you think the government could do to help.

Our quick straw poll is anonymous and will only take a couple of minutes to complete. We will let you know the results in next month's newsletter.

We look forward to hearing from you.

IN THE NEWS

Hampshire Trust Bank makes key Asset Finance appointment to further enhance broker service.

We have reported a pre-tax profit of £4.4m for the year ending 31 December 2016.

We have announced the appointment of Ian Alsop as Head of Underwriting in the Commercial Mortgages team.

Hire purchase and leasing finance for businesses and consumers via specialist independent introducers

Creative and customised relationship-based financing solutions for experienced property professionals

Short and long-term tailored mortgage lending for SMEs, trading businesses and investors

Straightforward and consistently competitive savings accounts, helping you get great value for your savings 

Consistently competitive and transparent deposit accounts designed to help your organisation make the most of its surplus working capital

 

©2015 Hampshire Trust Bank Plc is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority. Our FRN number is 204601. We are a company registered in England and Wales, registration number 01311315. Registered office: 55 Bishopsgate, London EC2N 3AS. Hampshire Trust Bank, HTB and Hampshire Trust Bank shutter icon are registered trademarks of Hampshire Trust Bank Plc.