The Crime Lord: Peter Capaldi on the manosphere, London and rocking out with his band as he approaches 70
Challenger bank Aldermore says IPO will still happen as lending lifts November 10, 2014 Challenger bank Aldermore, which pulled the plug on a planned London Stock Exchange listing last month, has posted promising third quarter results. Aldermore's total lending rose by 10 per cent in the third quarter, taking it to a 30 per cent increase since the beginning of 2014. This helped lift third quarter pre-tax profit [...]
Aldermore in US search for funds October 9, 2014 CHALLENGER bank Aldermore, which is trying to raise around £75m in a stock market flotation, is in New York making a last-ditch attempt to raise the funds. Advisers to the bank had hoped to have covered their books in London earlier this week but failed to get enough solid support. The bank has come to [...]
Aldermore IPO to value challenger bank at around £800m October 3, 2014 Aldermore has set a price range for its initial public offering that will value the challenger bank at around £800m. The price for the IPO will be set at between 217p and 265p per ordinary share. Trading is expected to begin as soon as 17 October. The five-year-old bank announced half-year profits of [...]
Virgin Money IPO: Challenger bank to float on stock market October 2, 2014 Challenger bank Virgin Money is floating on the stock market, chief executive Jayne-Anne Gadhia announced yesterday. The sale of the 25 per cent stake in the bank is expected to value the lender at between £1.5bn and £2bn. Major owners Virgin Financial Investments and US investment guru Wilbur Ross’ investment fund will sell down parts of [...]
Vince Cable’s plan to guarantee a challenger bank’s business loans September 24, 2014 One challenger bank will get a boost from the government when the British Business Bank guarantees its loans to small firms, under a pilot scheme to be launched at the end of October. It is Vince Cable’s latest plan to increase lending to SMEs, by taking risk away from the bank and on to the [...]
Challenger bank Aldermore kicks off new wave of stock flotations September 22, 2014 Challenger bank Aldermore wants to raise more than £75m in a stock market flotation, the small business and mortgage specialist announced yesterday. The flood of initial public offerings (IPOs) earlier this year had dried up with the combination of uncertainty over the Scottish referendum and the annual summer slowdown. But after last week’s No vote, [...]
Challenger bank Aldermore announces plans to IPO September 22, 2014 Five-year-old Aldermore Bank has today announced plans to list on the stock market, saying it wants to raise £75m "to support the medium-term growth of the business". The bank, which focuses on lending to small businesses and homeowners, was one of several "challenger banks" launched during the recession when its founders saw a gap in [...]
Just 15 per cent think challenger banks are better than big lenders August 26, 2014 New banks want to establish themselves as a fresh alternative to the dominant high street banks which have taken the blame for the financial crisis. But it is a tough ask. For new research out today from U-Switch suggests the public is not impressed with their offerings so far. Just 15 per cent think the [...]
Accelerating competition: How to level the playing field for challenger banks June 24, 2014 THERE is something that politicians and bankers both agree upon – we believe that greater competition improves the service and the products that customers get. We’ve heard ideas about increasing competition in banking from across the political spectrum. Today, the BBA is adding to that debate with some new ideas on promoting competition by levelling [...]
Banks want easier capital rules to let challengers compete fully June 23, 2014 UNFAIR capital rules are stopping challenger banks competing with big lenders by forcing them to hold bigger buffers against the same loans, the British Bankers’ Association said today. The biggest banks can hold less capital than smaller lenders against the same debts, because they have enough data to prove to regulators exactly how safe the [...]