Aldermore: We have outgrown challenger label April 2, 2014 ALDERMORE’S chief executive yesterday claimed the lender has outgrown the challenger bank label and is a now a well-established player in the market. The bank reported profits of £22.4m in 2013 yesterday, smashing its previous earnings of £1.5m in 2012. Its lending volumes soared by 64 per cent in the year to £3.4bn, which is [...]
Aldermore enters securitisation market in £330m mortgage deal March 25, 2014 CHALLENGER bank Aldermore is selling off £330m of prime residential mortgages in its first ever securitisation, the lender said yesterday. The bank wants to reduce its reliance on the Bank of England’s Funding for Lending Scheme (FLS) and raise funds to increase its lending volumes. Mortgage-backed securities got a bad name in the financial crisis [...]
Aldermore plans £1bn growth per year to challenge big lenders July 31, 2013 FOUR year old bank Aldermore hopes to grow its balance sheet by up to £1bn each year as it takes advantage of the larger lenders’ consolidation to seize market share, the lender’s chief told City A.M. yesterday. The bank recorded an operating profit of £9.2m in the first half of the year, up from £1m [...]