Aldermore is celebrating five years of providing banking services to SMEs, homeowners and savers across the UK.
In the first quarter of 2014, Aldermore, which posted a pre-tax profit of £22.4 million in 2013, provided a further £358 million of net lending to business and individuals increasing its total loan book by 11% to £3.7 billion.
In addition, the Bank’s savings products attracted £334 million of net new deposits, increasing total customer deposits by 10% to £3.8 billion.
The Bank now serves more than 155,000 customers across the country.
Phillip Monks, Aldermore’s chief executive, said: “Aldermore was founded at a time when lending was severely restricted and I am proud that we have played a role in supporting the UK by getting funds flowing to the businesses and homeowners that so desperately needed them.
“We also wanted to create a bank that was straightforward and transparent, and one that gave businesses and consumers alike a level of customer service that had been lacking in the banking sector. This approach remains at the heart of our business today.
“We have built a bank that our customers believe in and our strong growth is largely down to this and the hard work of our staff. I would like to thank all of our customers and the 750 people who work here for their on-going support. We have had much success to date and I look forward to the next five years of providing not banking as it has been but banking as it should be to our valued customers.”