On track to deliver targeted 2015 net loan growth of c£1.4bn
- Organic loan origination of £1.9bn year-to-date; up 12% on prior year (Q3 2014 YTD: £1.7bn)
- Net loans to customers up by 20% to £5.8bn (31 December 2014: £4.8bn)
- Lending to SMEs up by 19% to £2.7bn (31 December 2014: £2.2bn)
- Residential Mortgages up by 22% to £3.1bn (31 December 2014: £2.6bn)
Dynamic online deposit franchise matches lending growth
- Customer deposits up by 20% to £5.4bn (31 December 2014: £4.5bn)
- Excellent SME deposit growth; up by 28% to £1.3bn (31 December 2014: £1.0bn)
Maintained robust capital position
- Total capital ratio(1) of 15.6% (30 June 2015: 15.8%)
- CET 1 capital ratio(1) of 12.0% (30 June 2015: 12.0%)
- Leverage ratio(1) of 7.2% (30 June 2015: 7.2%)
Phillip Monks, CEO, commented:
“It has been another excellent quarter for Aldermore as net lending continues to increase in line with our expectations. We’ve delivered net loan growth of around £1bn for the first nine months of the year with net loans totalling £5.8bn at the end of September. Growth across the board is strong, with loans to SMEs up by 19% to £2.7bn and lending to homeowners up by 22% to £3.1bn.
“We refreshed our buy-to-let customer offering in July and I’m very pleased that, across both SME Commercial and Residential Mortgages, buy-to-let origination during the third quarter was around 19% higher than for the same period last year. As expected, we have not seen any impact from the recently announced changes to tax relief for some individual buy-to-let landlords.
“Our award-winning online deposit franchise funds our support of UK SMEs and homeowners with year-to-date growth of 20% to £5.4bn in deposits matching the rate of lending growth. We continue to diversify our deposit base and have driven 28% growth in SME deposits this year.
“Macro-economic conditions and the credit environment remain relatively benign in the UK, with base rates unchanged and continued growth in our target markets. We are on track to deliver net loan growth of around £1.4bn in 2015 while maintaining our margins, robust capital position and prudent risk appetite. We remain excited about the opportunity we face and confident of our ability to build on our proven track record of delivery for both customers and shareholders during the rest of this year and beyond.”
(1) All capital ratios are fully loaded CRD IV ratios as at 30 September 2015 and include Q3 2015 profits.
Please see our Q3 infographic
For further enquiries, journalists can contact:
Tel: +44 (0) 20 3553 4274
Tel: +44 (0) 20 3553 4251
Tel: +44 (0) 20 3553 4828
Tel: +44 (0) 20 3553 4244
Notes to Editors: For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.