Car Finance Lender Quits Market After Commissions Scandal Upheaval

Car finance lender quits market after commissions scandal upheaval

Secure Trust Bank plans to cease activity in the motor finance market to focus on more profitable business after the sector was rocked by a commissions scandal.

Secure Trust Bank to phase out vehicle finance in plan to increase profitability

Secure Trust Bank has decided to move away from vehicle finance so it can improve its return on average equity (ROAE), or profitability. The post Secure Trust Bank to phase out vehicle finance in plan to increase profitability appeared first on Mortgage Solutions.

Secure Trust Bank: Jobs at risk as lender exits motor finance

Specialist lender Secure Trust Bank has announced a “strategic pivot” away from its motor finance division in a bid to boost returns. The group said it will pause new lending within its vehicle finance division and “run off” its existing book, meaning it will manage its current portfolio until it naturally winds down. The bank cited the “historical financial performance” and “medium-term outlook” for its motor finance division. In November, Secu…