HAMPDEN & Co has declared there is “pent-up demand” for its personal banking approach as it reported significant hikes in both deposits and lending in the first half of the year.

The Edinburgh-based bank, which targets high-net-worth individuals, said deposits increased by £95 million (39 per cent ) and lending grew by £47m (44%) in the opening six months of the year, compared with the same period last year.

Chief executive Graeme Hartop said mortgage lending remained strong in Scotland, notably in the Edinburgh area. However, he conceded that the slowdown in the London property market in the last year, sparked by wider political uncertainty, was affecting demand in the UK capital.

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Mr Hartop, who noted Hampden’s client base now stands at around 3,000, said: “I guess part of it is that a lot of jobs will be potentially impacted [by Brexit] and obviously it is a lot more [of a] cosmopolitan population down there.

“The London market was very buoyant until a year ago, but it has cooled down in the last year, so people are looking longer and harder [before making commitments].”

Asked whether he was worried about Brexit, Mr Hartop said that with Hampden largely focused on the UK, the departure from the EU was not having a “significant” direct effect on the bank. But he repeated that it is having an “impact” on the London property market, albeit the effect is “difficult to quantify”.

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Meantime, Mr Hartop said deposits are continuing to grow, adding that the bank is continuing to see client numbers grow as customers recommend it to their contact networks.

He said: “We have got a lot of wealthy clients who are keeping a fair amount of their wealth in liquid form. They are very happy to entrust these assets to us over a long term.”

The first half of the year saw Hampden roll-out its new digital banking service, which includes a mobile app, while continuing to strengthen its banking teams in Edinburgh and London. Its headcount now stands at nearly 100, with 85 based in Edinburgh and the balance in England.

The bank also launched its Property Finance Review, which quizzes high-net-worth individuals on their top priorities and experiences when setting up their mortgages. Hampden said the inaugural survey found that only one in three feel they are treated as a person by their provider.

Mr Hartop, a former managing director of Scottish Widows Bank who joined Hampden shortly after its formation by Ray Entwistle in 2013, said: “Our analysis of the market in the first half of the year showed how frustrating the mortgage application process can be, which is where our personalised approach comes to the fore, particularly around helping families get on the property ladder.”

Mr Entwistle retired as Hampden chairman last year and has been replaced by Alan Hughes, a former chief executive of First Direct Bank.