Aldermore celebrates strong year

Ryan Fowler

April 2, 2014

The bank also increased its gross lending by 64% year-on-year to £3.4bn.

Milestones reached included the bank exceeding £4bn on its balance sheet, up 66% from £4.2bn recorded in 2012.

Phillip Monks, chief executive officer, said: “2013 was a year of significant growth across all areas of the bank.

“We have clearly demonstrated that we are providing banking services which our customers want, while also delivering a sustainable return for our investors.”

Lending to SMEs increased by 53% to £1.69bn, while £1.68bn was lent to homeowners, 76% more than in 2012.

Monks added: “Aldermore supports SMEs and homeowners right up and down the country, providing attractive savings products and increasing our lending at a time when many continue to find it difficult to gain access to finance from traditional lenders.”

The vast majority of the bank’s funding remains deposit led, as customer’ deposits rose by 61% to £3.4bn.

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