High interest boost

SAVERS could soon get high- paying interest rates from Arbuthnot Latham bank under a scheme to help it raise cash at short notice.

The small lender, which mostly focuses on super-rich clients, is introducing Arbuthnot Direct to quickly raise funds when it seeks to buy a business. It aims to offer rates that top the best-buy tables to attract customers’ attention, although nothing is planned yet.

Operating chief Andrew Salmon said: ‘I think savers would like to see an alternative.’

The bank reported a £ 7m profit last year, which was up from £200,000 in 2016.