When the bank launched, our vision was to operate a traditional model - to raise deposits from retail and SME customers to lend to homeowners and SMEs. The journey to turn this vision into a reality has been an exciting one:
- Launched in 2009, backed by private equity company AnaCap and Morgan Stanley Alternative Investment Partners with savings, asset finance and commercial mortgage products
- Acquired an invoice finance business at end 2009
- Launched residential mortgage business from scratch in May 2010
- Acquired small asset finance business in 2010
- Raised £62 million investment in Sept 2011
- Launched range of business savings accounts mid 2012
- Raised £36 million investment mid 2012
- Broke-even mid 2011, two months earlier than expected and after two years of trading
- Aldermore is the fastest growing bank in the UK and now has £2.3 Billion worth of assets.
Aldermore is extremely well-placed to grow. We are strongly capitalised and readily able to raise the deposit funding required to support the ongoing growth in our lending businesses.