Customer deposits also increased by 26 per cent to £897 million, whilst the ratio between deposits/loans to the bank's customer base stood at 92 per cent.
"The overall performance for 2007 has been very satisfying for the bank's operations with strong growth across our diversified lending businesses," reflected Heritable's chief executive, Mark Sismey-Durrant.
He cited both a conservative funding bias towards deposits and prudent approach towards its lending activity as key factors in delivering these results despite such turbulence in the financial markets.
"Our continued strength as a balance sheet lender means that those who deal with us can be assured that we will continue to meet their needs over the long term and that we will continue to invest in our specialist customer proposition.
"Whilst the economy is likely to slow this year, we are well positioned to take advantage of business opportunities arising in the current marketplace."
