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FLS figures show Aldermore’s net lending is supporting the UK economy

POSTED: 3rd December 2012
IN: Newsroom
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Figures released by the Bank of England today showed that during the third quarter of 2012 Aldermore’s net lending of £228m to the UK economy was in the top five of all the lenders in the scheme, at a time when a number of the UK’s largest banks are reducing their overall lending.

The figures also show that relative to its size, Aldermore is increasing its lending across both its retail and commercial customers at a faster rate - 15% - than any of the lenders in the top five (Aldermore, Coventry Building Society, Virgin Money, Nationwide Building Society, Barclays).

This continues Aldermore's trend of increasing its lending to households and businesses; Aldermore recently announced it has lent more than £1 billion to small and medium sized enterprises (SMEs) since first opening its doors for business in the summer of 2009.

Commenting on the release of today's figures, John Baines, Chief Financial Officer of Aldermore said: "The UK economy needs banks that are willing to lend and for a bank that only started operating in 2009, having one of the highest net lending figures is testament to our commitment to supporting British SMEs and households. Aldermore's mission is to get much needed funding to where it is needed - we are doing just that by increasing our lending at a time when the largest UK banks are dramatically scaling back their lending." 

**Ends**

For further information journalists can contact:

Press office:          Lise Bulloch on 0161 238 5005 / Ingerlise.bulloch@aldermore.co.uk

Maitland:               Andy Donald / Andrea Coleman / Duncan Brown on 020 7379 5151

For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page. 

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