Aldermore bank has broken even

NEW British bank Aldermore has broken even, two years after its launch, and has accumulated total assets of more than £1bn, the company said yesterday.

Aldermore said it now had loans of more than £800m for 9,500 customers, and had 42,000 deposit accounts.

Aldermore and other new entrants such as Metro Bank, Haymarket Financial (HayFin) and NBNK are aiming to challenge the dominance of Britain’s “Big Four” banks.