We have grown our lending assets to £7.5bn, deposits to £6.5bn and now serve over 220,000 customers. We’re leveraging our infrastructure and seeing our cost to income ratio reduce from 97% in 2011 to 45% at the end of 2016. In 2016 we generated an underlying profit before tax* of £133m and an RoE of 18%**.
Historic financial information
*Excluding impairment of goodwill of £4.1m (pre- and post-tax) in 2016 and IPO related costs of £4.1m (pre-tax) and £3.2m (post-tax) in 2015.
**2016 RoE excludes impairment of goodwill of £4.1m (post-tax) and is after payment of AT1 coupon of £6.6m (post-tax). 2015 RoE excludes IPO related costs of £3.2m (post-tax) and is after payment of AT1 coupon of £2.8m (post-tax).