Hampden Bank Sees 91% Profit Rise as Deposits Surge

Hampden Bank has reported a significant turnaround in its fortunes, with a 91% jump in first-half earnings to £4.7 million. This marks a return to profitability for the private bank after two years of declining profits.

The bank's deposits grew by 36% year-on-year to £1.3 billion, while lending rose 8% to £661m. Hampden attributed its previous decline in profit to organisational change, office moves, and Bank of England base rate cuts.

Chief executive Tracey Davidson said the bank is 'investing in the future', with a focus on sustainable growth and maintaining a relationship banking experience for clients. The bank has also expanded its regional presence through the launch of a new North and Midlands base in Manchester.