Aldermore has reported an increase in lending for 2015 across all of the sector it is involved in.
Asset finance lending was up by 29%; SME commercial mortgages by 50%; buy-to-let by 18% and residential mortgages 42%.
The challenger bank originated £2.6bn up by 10% on the previous year.
Meanwhile, pre-tax profits rose by 88% to £95m.
Phillip Monks, Aldermore’s CEO, said: “It has been an excellent year, both operationally and financially, for the group. We have delivered record levels of profitability with our profit before tax up by 88%. Today’s results clearly demonstrate our continued focus on delivery across a range of key metrics, with our net interest margin exactly as expected, continued improvement in our cost/income ratio and another strong credit performance.
“We are serving more customers than ever. Net lending is up to £6.1bn driven by strong double digit growth in asset finance and all our mortgage portfolios. We continue to support UK businesses and were pleased to be the third largest net lender to SMEs under the Bank of England’s Funding for Lending Scheme in 2015. Our online deposit business grew in line with our lending and continued to enhance our reputation for innovation with the launch of our SME Rate Checker. We aim to deliver exceptional service every time and I’m pleased with our Net Promoter Score of 22, which is well above the UK banking average of 2, and that 97% of customers posting feedback on our website would recommend us to a friend or family member.
“We are committed to supporting the UK’s SMEs, homeowners, landlords and savers who are often under- or poorly served by the wider market. We have a clear and differentiated growth strategy and remain both excited about the opportunity in our chosen markets and confident of our ability to deliver continued strong profitable growth and attractive, sustainable returns for shareholders.”
