Hampden Bank profit rises as deposits up by a third – Daily Business

Hampden Bank chief executive Tracey Davidson’s bet on riding out two years of falling profit is starting to pay off, with the private bank reporting a 91% jump in first-half earnings.

Profit before tax for the six months to 30 June 2026 came in at £4.7 million against a comparable period last year that had been dragged down by the cost of relocating the Bank’s Edinburgh and London offices. Deposits grew 36% year-on-year to £1.3 billion, while lending rose 8% to £661m.

The turnaround for the bank comes after profit before tax fell for a second successive year in 2025, to £7m down from £8.2m in 2024 and £9.1m in 2023 – a decline the Bank attributed to organisational change, office moves in Edinburgh and London, and Bank of England base rate cuts arriving faster than forecast. In Apil this year Daily Business, reported the bank sticking to its target of £20m in annual profit before tax by 2030.

During the first half of the year, Hampden marked the official launch of its new North and Midlands base in Manchester, expanding its regional presence and creating a hub to support clients across the North and Midlands.

The bank also strengthened its leadership team through a number of senior appointments, including Chris Williamson as head of data, Liz Wilde as head of product and proposition, and an incoming director of marketing and communications.

Chief financial officer Jonathan Peake said the first half of 2026 had been “another period of strong performance,” pointing to continued growth in deposits and lending “while delivering a significant increase in profitability, reflecting the strength of our business model and the trust our clients place in us.”

Ms Davidson said: “Alongside this performance, we continue to invest in the future of the Bank. The establishment of a team for the North and Midlands and the addition of experienced leaders across business development, data, product and marketing strengthen our capability as we build on our growth trajectory and continue to support clients across the UK.

“Hampden Bank remains focused on delivering sustainable growth whilst maintaining the relationship banking experience that has underpinned its success.

“With a growing client base, strong levels of advocacy and continued investment across the business, the Bank enters the second half of the year well positioned to deliver on its strategic ambitions.”