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Aldermore’s CFO on Sky News

POSTED: 1st August 2012
IN: Newsroom
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Aldermore's Chief Financial Officer, John Baines was interviewed today on Sky Business News by well-known presenter, Joel Hills.

Following the Government's announcement of the introduction of the Funding for Lending Scheme which has been welcomed by Phillip Monks, Aldermore's CEO, John Baines added to the debate this afternoon whereby he said:

"I would expect to see lending volumes rise as a result of the FLS, as it will improve liquidity in the market.

"As a challenger bank that champions SMEs, Aldermore welcomes the FLS as the FLS is a more effective and simpler scheme than the NLGS. It's more promising in terms of sorting out the issues in our economy because it should boost liquidity and therefore the volume of lending.  

"SMEs don't particularly care about 1 percentage point of cost here and there - they just want the money to be lent out.  This Scheme incentivises the banks to do that.

In conclusion, John Baines added:  "Aldermore would expect to receive its first draw downs by the end of September, beginning of October", signalling Aldermore's intention to participate in this Scheme.         

**Ends**

About Aldermore

Aldermore is a new British bank and one of the best capitalised banks in the UK. With backing provided by AnaCap and Morgan Stanley Alternative Investment Partners, Morgan Stanley's Private Equity Fund of Funds business and new investment from the consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System, Aldermore raises deposits from consumers and lends to homeowners and small and medium sized businesses.

As a British bank, Aldermore is regulated by the Financial Services Authority and is registered under the Financial Services Compensation Scheme, which means customers' savings are protected up to the statutory limit of £85,000 per person. Aldermore is also a member of the Council of Mortgage Lenders.

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Established in 2005, AnaCap is Europe's largest specialist private equity investment advisor in the financial services sector. Based in London and investing across Europe, AnaCap advises funds with more than €1 billion under management. AnaCap's funds invest in businesses with high growth potential and strong management teams. AnaCap works with management teams to improve infrastructure and business processes. It employs sophisticated, twenty-first century technology to create low cost, scalable, sustainable and highly digital based platforms. AnaCap's day-to-day support allows management to pursue growth strategies in the most efficient and effective manner.

AnaCap's team of professionals also assists investee companies in assessing and reducing key credit and market risks. This expertise in risk and liability management is a key factor in the strong performance of AnaCap's portfolio.

The success of AnaCap's investment strategy and team has attracted investment from highly regarded global institutional investors including Goldman Sachs, Allianz, Morgan Stanley Alternative Investment Partners, Honeywell, State of New Jersey and Adams Street Partners.

Press office: Lise Bulloch - 0161 238 5005 - email: Ingerlise.bulloch@aldermore.co.uk

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