“We keep everything very simple and straightforward. Customers like that and staff like the fact they are not forced to sell c*** to customers!”
That’s the straight talking CEO of Secure Trust Bank, Paul Lynam, explaining its success as it posted annual results for the year ending December 31.
The bank – which is based on the Cranmore estate in Solihull – has seen profits increase by 52 per cent on a year on year basis and recorded a profit before tax of £25.2million compared to £16.6million in 2012.
Mr Lynam said: “We have been able to meet the needs of a growing number of customers.
“We are up 50 per cent year on year and that has led to us increasing our profits by about 50 per cent.”
He added: “We are continuing to grow our number of employees including those based locally in Solihull.
Dividend is up by 10 per cent to investors at a time when quite frankly most banks don’t pay at all.”
The bank employs several hundred staff across the borough and within its subsidiaries in the UK and changed its name from Secure Homes to its present moniker some years ago. The bank is proud of its simple framework.
Mr Lynam asaid: “We haven’t been sucked into the foreign exchange and we have never sold PPI.
“We have our basic current account and a range of lending services. We do personal loans and we offer retail finance. We have always thought the philosophy of treating customers fairly is the right one.”