"The proceeds will be used to strengthen STB's capital position, provide additional financial flexibility to deliver its growth strategy, and ultimately enhance returns for shareholders."
The £54.6 million portfolio has been sold to Jacqali Designated Activity Company, a financing vehicle established by a global financial institution.
The Bank first announced plans to cease origination of new mortgage lending in February 2019.
Secure Trust says the sale is in line with its strategy to "focus on specialist lending segments offering higher yields". The capital released is intended to be reinvested into STB's remaining businesses and for other corporate purposes.
David McCreadie, CEO of Secure Trust Bank, commented: "The disposal is in line with STB's strategy of maximising value, simplifying the Group and focusing on the areas of the business that have the strongest prospects for delivering sustainable and profitable medium to long-term growth. The proceeds will be used to strengthen STB's capital position, provide additional financial flexibility to deliver its growth strategy, and ultimately enhance returns for shareholders."
