The challenger bank saw total profit after tax climb from £28.7m in 2015 to £137.5m in results for the year to 31st December 2016.

This figure was aided by the disposal of the Everyday Loans Group in the first half of last year.

Secure Trust Bank’s results were also boosted by its move to a premium listing on the main market of the London Stock Exchange in the second half of 2016 after Arbuthnot Banking Group agreed to sell a stake in the bank.

The bank also saw customer deposits increase by 11%, while its overall loan book grew by 38%.

The results will allow Secure Trust Bank to continue its growth plan through professional and responsible lending across existing and new lending divisions as well as selective acquisitions of loan books and businesses.

“We have repositioned the activities of the group, almost doubled our capital base, increased our customer numbers by 42% and delivered excellent levels of customer satisfaction,” said Paul Lynam, chief executive of Secure Trust Bank (pictured above).

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“Having generated total shareholder returns of 247% – including dividends, in the five years since our AIM flotation in late 2011 – we are in a strong position to pursue our strategic priorities, as we develop our existing businesses, diversify into new areas and remain open to potential M&A [mergers and acquisitions] activities."

On Monday (20th March), Secure Trust Bank launched its residential first charge mortgage range having decided to enter the market last year.

The bank also offers a range of commercial finance options, including asset-based lending and invoice finance, which Secure Trust revealed traded profitably within two years of commencement.

“Secure Trust Bank enters 2017 well placed to pursue its strategic priorities by developing its business model organically and pursuing M&A opportunities,” said Lord Forsyth, chairman of Secure Trust Bank.

“This, coupled with the main market premium listing and substantial capital resources, means the group is set fair to navigate an uncertain economic and regulatory environment.”

Paul also revealed Secure Trust Bank was considering being part of RBS’s proposed range of measures, including a £750m fund to promote competition in SME banking.

“We would consider ourselves one of the 'eligible challenger banks' they refer to and will study in depth their full proposals lest these enable us to profitably deploy our surplus capital faster than we currently envisage.

“I am optimistic about the potential, for a variety of different reasons, for a more level and more competitive playing field in respect of regulation to emerge, which will ultimately open up a much larger share of the market for smaller non-systemic banks to compete in.

“I continue to believe greater levels of competition are in the best interests of UK consumers and SMEs by providing more choice, more innovation and less concentration in the UK banking market.

“This also offers less risk to taxpayers.”