First Trust Bank
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First Trust Bank - overview
Location
Belfast, -, UK
Primary Industry
Financial Services
About
First Trust Bank is a financial institution based in Belfast, UK, offering a wide range of banking services to personal and business clients, including accounts, loans, and investment solutions. First Trust Bank operates as a bank providing various financial services. It was acquired by BNC Bancorp, a portfolio company of Aquiline Holdings, in June 2012. The company is headquartered in Belfast, UK, and has engaged in a total of one deal as of 2012.
The latest funding round was an Add-on funding of USD 35. 00 mn from BNC Bancorp. First Trust Bank specializes in a diverse array of financial products and services tailored for personal and business clients. Their offerings include personal and business accounts, loans, mortgages, and investment services, all designed to facilitate banking activities, provide capital access, and support financial growth.
They cater to individuals, small to medium-sized enterprises (SMEs), and larger corporations, ensuring customized solutions to their unique challenges while targeting various regions across the UK and international markets. In the most recent fiscal year of 2024, First Trust Bank reported a revenue of USD 492. 07 mn and an EBITDA of USD 346. 37 mn.
Revenue is primarily generated through interest income from loans and mortgages alongside fees for various banking services, which are structured around direct banking services with clients engaging in account management and investment products. In the upcoming period, First Trust Bank intends to enhance its product offerings by launching new financial solutions, although specific release dates have not been disclosed. The bank is also planning to expand its geographic footprint, targeting additional markets within the UK and internationally, aiming for strategic growth. The recent funding received from BNC Bancorp will be utilized to support these initiatives, focusing on both product development and market expansion efforts.
Current Investors
BNC Bancorp
Primary Industry
Financial Services
Sub Industries
Accounting Services, Retail Banks
Website
www.firsttrustbank.co.uk
Verticals
FinTech
Company Stage
Add-on
Total Amount Raised
Subscriber access only
First Trust Bank - timeline of key events
First Trust Bank - financials
| Fiscal Year Ended | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 238,000,000 | 242,000,000 | 273,000,000 | 264,000,000 | 267,000,000 | 291,000,000 | 319,000,000 | 260,000,000 | 250,000,000 | 309,000,000 | - | - | - |
| % Revenue Growth (YoY) | - | 1.7% | 12.8% | (3.3%) | 1.1% | 9.0% | 9.6% | (18.5%) | (3.8%) | 23.6% | - | - | - |
| EBITDA (USD) | 9,000,000 | 16,000,000 | 112,000,000 | 171,000,000 | 109,000,000 | 130,000,000 | 176,000,000 | (90,000,000) | 103,000,000 | 149,000,000 | - | - | - |
| Operating Income (USD) | 6,000,000 | 14,000,000 | 111,000,000 | 170,000,000 | 106,000,000 | 129,000,000 | 164,000,000 | (105,000,000) | 89,000,000 | 138,000,000 | - | - | - |
| Operating Margin | 2.5% | 5.8% | 40.7% | 64.4% | 39.7% | 44.3% | 51.4% | (40.4%) | 35.6% | 44.7% | - | - | - |
| % EBITDA Margin | 3.8% | 6.6% | 41.0% | 64.8% | 40.8% | 44.7% | 55.2% | (34.6%) | 41.2% | 48.2% | - | - | - |
| NET Income (USD) | (74,000,000) | (73,000,000) | (87,000,000) | 66,000,000 | 102,000,000 | 111,000,000 | 106,000,000 | (84,000,000) | 170,000,000 | 115,000,000 | - | - | - |
| % Net Margin | (31.1%) | (30.2%) | (31.9%) | 25.0% | 38.2% | 38.1% | 33.2% | (32.3%) | 68.0% | 37.2% | - | - | - |
First Trust Bank - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | First Trust Bank | - |
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First Trust Bank - employee data
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