We have grown our lending assets to £6.8bn, deposits to £6.5bn and now serve over 219,000 customers. We’re leveraging our infrastructure and seeing our cost to income ratio reduce from 97% in 2011 to 45% at the end of June 2016. In our third full year of trading, we broke-even and in H1 2016 generated an underlying profit before tax* of £63.2m and an RoE of 18.0%**.
Historic financial information
*Excluding impairment of goodwill of £4.1m (pre- and post-tax) in H1 2016 and IPO related costs of £4.1m (pre-tax) and £3.2m (post-tax) in H1 2015.
**H1 2016 RoE excludes impairment of goodwill of £4.1m (post-tax) and is after payment of AT1 coupon of £6.6m (post-tax). H1 2015 RoE excludes IPO related costs of £3.2m (post-tax) and is after payment of AT1 coupon of £2.8m (post-tax).