Six years on Aldermore continues its growth story
Today Aldermore celebrates six years of helping Small and Medium-sized Enterprises (SMEs), homeowners and savers across the UK.
Founded during the economic downturn in 2009, two months after the Bank of England cut the base rate to a record low 0.5%, Aldermore has grown strongly every year since.
Last week, the Bank announced that in the first quarter of 2015 its total lending increased by 7% to £5.1bn, £2.4bn of which consisted of lending to SMEs. In addition at the end of March, total customer deposits stood at £4.7bn, including £1.1bn of SME savings.
The past year has proved extremely significant for the Bank. In March, Aldermore Group PLC successfully floated on the London Stock Exchange, raising £75m of gross primary equity. In April, it joined the Help to Buy: equity loan scheme, more than a year after it began offering homeowners loans through the Help to Buy: mortgage guarantee scheme.
Aldermore provides straightforward banking to around 170,000 customers across the UK in the form of award-winning asset and invoice finance, mortgages and savings products and serves customers online, via intermediaries and from its 12 regional offices. Starting with 50 staff in 2009, the Bank has had to grow quickly to keep pace with its growing customer base and now has over 850 staff located across the UK.
Phillip Monks, chief executive, Aldermore said: “Each year that passes gives us another opportunity to reflect on our tremendous growth. Aldermore was created to offer an alternative to the traditional high street lenders and we are proud of the support we have been able to extend to Britain’s SMEs, homeowners and savers since our launch six years ago.
“In 2009, we recognised that there was a real need in the UK for a Bank that was straightforward and transparent, and one that gave businesses and individuals a level of customer service that had been lacking in the banking sector. This approach remains at the heart of what we do and I’d like to thank all of our customers for choosing Aldermore.”
An infographic containing highlights of Aldermore’s six years is available here http://www.aldermore.co.uk/about-us/aldermores-6th-birthday