Leopold Joseph profits up 20% despite high IT and premises spend

Leopold Joseph, the independent private banking group, saw pre-tax profits increase 20% to £2.72m (€4.32m) for the year ending 31 March, following a 24% growth in the trust and company administration business.

Robin Herbert, group chairman, commented: 'The positive results of our strategic decision five years ago to focus on private banking are now visible.'

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