Aldermore celebrates 3 years of helping Britain’s small businesses

POSTED: 21st May 2012
IN: Newsroom

Aldermore, one of Britain's leading challenger banks and an agreed participant in the government's flagship small business initiative, the National Loan Guarantee Scheme, celebrated its third year of trading on Sunday 20th May.

Established in 2009, with the backing of AnaCap Financial Partners and Morgan Stanley Alternative Investment Partners, Aldermore has grown at an impressive pace and has been able to help thousands of UK homeowners and small businesses along the way.  

Aldermore now has 70,000 retail account holders, representing £1.6bn of deposits; 4,600 residential mortgage customers; and, it has lent £850 million to over 10,000 SME customers. The bank also recently announced it has lent more than £1bn in residential and commercial mortgages.

Earlier this month, Aldermore secured £36 million of new capital from Centerbridge Partners, a leading global investor, enabling the bank to continue to meet the strong demand for its accounts and services from both retail customers and SMEs, while retaining its focus on credit quality.

This was Aldermore's second successful capital raise in less than a year after receiving a £62 million equity investment from a host of blue-chip investors last September. Aldermore remains one of Britain's best capitalised banks.

Phillip Monks, Chief Executive, said:"Aldermore has had a fantastic three years in business, breaking even last year and ahead of schedule. We have been able to do exactly what we set out to do, which is help British homeowners and small and medium-sized firms, while growing our own business with the invaluable support of our investors.

"There is a lot more still to come. We are championing the cause of SMEs in the UK and as part of this campaign, we have agreed to sign up to the National Loan Guarantee Scheme. This initiative will help with small firms' cost of funding, but we also need to see the volume of lending increase if these vital businesses are going to drive a sustainable economic recovery. Aldermore is ready to play its part."

For further information journalists can contact:

Duncan Browne / Sam Turvey / Andrea Coleman - Maitland

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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