Leading International Investment Research

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>Secure Trust Bank&rsquo;s (STB) first half results were a reminder that the reshaping of the loan book towards one with a lower risk profile does involve some pain. While lower asset yields from new business and maintained impairments from the back book pinch near-term returns, the potential growth of over 30% in FY18 and FY19 earnings is an indicator of gains to come on the back of a higher-quality, more diverse and resilient loan book.</p>

Secure Trust Bank&rsquo;s (STB) first half results were a reminder that the reshaping of the loan book towards one with a lower risk profile does involve some pain. While lower asset yields from new business and maintained impairments from the back book pinch near-term returns, the potential growth of over 30% in FY18 and FY19 earnings is an indicator of gains to come on the back of a higher-quality, more diverse and resilient loan book.

Secure Trust Bank

Progressing with a prudent approach