Aldermore still plans to float

Sarah Davidson

November 10, 2014

The challenger bank originally planned to float in October before pulling out due what it deemed a “deterioration of global equity markets”.

The bank revealed today that its total lending rose by 10% in Q3 2014 to £4.4bn, led by a 12% increase in residential mortgage lending.

Monks, who would not be drawn on whether the bank could float this year, said: “It’s definitely only a postponement.

“We’re watching the markets closely and as and when the time is right we’ll be able to move very quickly.”

In its original floatation announcement Aldermore said it was looking for £75m to support business growth.

Fellow challenger bank Virgin Money is due to float later this month.

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