Source: Sharecast
Updating on third-quarter trading, the private bank - which traces its history back to 1833 - said customer deposit balances were £4.4bn as at 30 September, up 17% year-on-year.
In its wealth management arm, funds under management and administration rose 5% to £2.5bn, following inflows of £88m.
In the year to date, net inflows now stand at £191m. Arbuthnot said growth seen across both divisions during the quarter had been "strong".
However, customer loans and leased assets fell 9% to £2.3bn.
Arbuthnot said: "The uncertainty being caused by the speculation around the Budget, where various tax increases are being suggested, has dampened sentiment for both businesses and households, and specifically in the residential investment and private equity markets, which are important sources of business for the group."
It also warned that the uncertain economic outlook had hit demand for loans, prompting lenders to “aggressively” compete by cutting rates.
"The group is reluctant to be drawn into competing on price alone," Arbuthnot said.
"Instead, we continue to maintain discipline and preserve capital for the future, when markets become firmer and pricing produces acceptable returns for our deployed capital."
As at 1130 BST, shares in the AIM-listed firm were down 4% at 865.55p.
