HAMPDEN & Co has revealed its first move into digital banking as its chief executive played down the effects of Brexit on the institution.
Edinburgh-based Hampden, which was the first private bank to launch in the UK in 30 years when it opened its doors in 2015, said its mobile banking app will launch in January.
The move was announced shortly after Hampden, led by veteran banker Graeme Hartop, was unveiled as one of 11 UK banks which will be eligible to take part in the £275 million Incentivised Switching Scheme.
And it comes as the bank declared that it has continued to drive increases in deposits and loans during the fourth quarter of its third full year of trading. It is forecasting further growth next year.
While the share prices of major UK banks have been weighed down by Brexit uncertainty in the last year, Hampden said it “does not foresee any material impact” from the UK's divorce from the European Union on its business. It said this is chiefly because it mainly provides private banking services in the UK market.
Mr Hartop, who oversees Hampden offices in Edinburgh’s Charlotte Square and Mayfair in London, said the mobile app “moves our offering to the next level by supporting our relationship-driven model, which is now paying dividends underpinned by the close [links] developed between our private bankers and clients.”
He added: “We are supporting our organic growth by adding expertise from talented bankers who in the main have been drawn to Hampden & Co because of the fresh approach we are taking to private banking, something that is increasingly being recognised by the industry as a whole.”
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