UK private bank Hampden & Co recorded a significant increase in its pre-tax profits in 2023.

Pre-tax profits grew from £2.0 million in 2022 to £9.1 million in 2023, as rising interest rates and increased client demand supported this growth.

When asked by thewealthnet about the reasoning for such a large increase in profits, Hampden & Co said: "It’s a combination of various factors, from increased revenue and fees on a higher ...