This positive momentum is highlighted by 13% year-on-year client growth, reaching a total of over 5,000 by the end of the period and an 8% client increase in just the first six months of 2023.

In the backdrop of soaring demand from high-net-worth families and individuals seeking customised banking solutions, Hampden & Co unveiled a 6% year-on-year rise in both lending and deposits, amounting to £461m and £773m respectively.

Of particular note was the bank’s retirement mortgage offering, which witnessed 10% growth in H1 2023. This solution, catering to those aiming to address estate planning regarding inheritance tax liabilities, exhibited a 39% surge year-on-year.

In terms of deposits, clients continued to reallocate cash from current and call accounts into notice and term accounts to benefit from rising interest rates. Term deposits were up 44% year-on-year, with notice deposits up 96%.

To continue to meet demand and cater for client growth, Hampden & Co further strengthened its team in H1 2023. Patrick Preece and John Glanville joined as banking directors based in the London office while Mark Plummer joined as the new head of private banking in London.

Graeme Hartop, CEO, Hampden & Co, said: “The UK banking sector continues to experience change and we believe we are very well positioned to increase market share in the private banking sector as well as to meet the needs of underserved high-net-worth customers of High Street banks.

“It is particularly pleasing to see a high number of referrals from other professionals such as wealth managers, solicitors and accountants, as such partnerships are of significant benefit to our mutual clients.”