Aldermore Group PLC 3rd Quarter Results (4226F)
November 12 2015 - 2:00AM
UK Regulatory
TIDMALD
RNS Number : 4226F
Aldermore Group PLC
12 November 2015
12 November 2015
Aldermore Group PLC
Q3 2015: Continued delivery against targets
On track to deliver targeted 2015 net loan growth of
cGBP1.4bn
-- Organic loan origination of GBP1.9bn year-to-date; up 12% on
prior year (Q3 2014 YTD: GBP1.7bn)
-- Net loans to customers up by 20% to GBP5.8bn (31 December 2014: GBP4.8bn)
o Lending to SMEs up by 19% to GBP2.7bn (31 December 2014:
GBP2.2bn)
o Residential Mortgages up by 22% to GBP3.1bn (31 December 2014:
GBP2.6bn)
Dynamic online deposit franchise matches lending growth
-- Customer deposits up by 20% to GBP5.4bn (31 December 2014: GBP4.5bn)
-- Excellent SME deposit growth; up by 28% to GBP1.3bn (31 December 2014: GBP1.0bn)
Maintained robust capital position
-- Total capital ratio(1) of 15.6% (30 June 2015: 15.8%)
-- CET 1 capital ratio(1) of 12.0% (30 June 2015: 12.0%)
-- Leverage ratio(1) of 7.2% (30 June 2015: 7.2%)
Phillip Monks, CEO, commented:
"It has been another excellent quarter for Aldermore as net
lending continues to increase in line with our expectations. We've
delivered net loan growth of around GBP1bn for the first nine
months of the year with net loans totalling GBP5.8bn at the end of
September. Growth across the board is strong, with loans to SMEs up
by 19% to GBP2.7bn and lending to homeowners up by 22% to
GBP3.1bn.
"We refreshed our buy-to-let customer offering in July and I'm
very pleased that, across both SME Commercial and Residential
Mortgages, buy-to-let origination during the third quarter was
around 19% higher than for the same period last year. As expected,
we have not seen any impact from the recently announced changes to
tax relief for some individual buy-to-let landlords.
"Our award-winning online deposit franchise funds our support of
UK SMEs and homeowners with year-to-date growth of 20% to GBP5.4bn
in deposits matching the rate of lending growth. We continue to
diversify our deposit base and have driven 28% growth in SME
deposits this year.
"Macro-economic conditions and the credit environment remain
relatively benign in the UK, with base rates unchanged and
continued growth in our target markets. We are on track to deliver
net loan growth of around GBP1.4bn in 2015 while maintaining our
margins, robust capital position and prudent risk appetite. We
remain excited about the opportunity we face and confident of our
ability to build on our proven track record of delivery for both
customers and shareholders during the rest of this year and
beyond."
(1) All capital ratios are fully loaded CRD IV ratios as at 30
September 2015 and include Q3 2015 profits.
Enquiries:
Analysts Media
Claire Cordell Holly Marshall
Tel: +44 (0) 20 Tel: +44 (0) 20 3553 4828
3553 4274
Amit Deshpande Andy Homer
Tel: +44 (0) 20 Tel: +44 (0) 20 3553 4244
3553 4251
FTI Consulting
Neil Doyle/ Paul Marriott
Mobile: +44 (0) 7771 978 220
/+44 (0) 7703 330 390
Important disclaimer
Visit www.aldermore.co.uk for more information. This press
release may contain 'forward-looking statements' with respect to
certain of the Group's plans and its current goals and expectations
relating to its future financial condition, performance, results,
strategic initiatives and objectives. Generally, words such as
"may", "could", "will", "expect", "intend", "estimate",
"anticipate", "aim", "outlook", "believe", "plan", "seek",
"continue" or similar expressions identify forward-looking
statements. These forward-looking statements are not guarantees of
future performance. By their nature, all forward-looking statements
are inherently predictive and speculative and involve risk and
uncertainty because they relate to future events and circumstances
which are beyond the Group's control, including amongst other
things, UK economic business conditions, market-related risks such
as fluctuations in interest rates, the policies and actions of
regulatory authorities, the impact of competition, inflation,
deflation, the timing impact and other uncertainties of future
acquisitions or combinations within relevant industries, as well as
the impact of tax and other legislation or regulations in the
jurisdictions in which the Group operates. As a result, the Group's
actual future financial condition, performance and results may
differ materially from the plans, goals and expectations set forth
in the Group's forward-looking statements. Forward-looking
statements in this press release are current only as of the date on
which such statements are made. The Group undertakes no obligation
to update any forward-looking statements, save in respect of any
requirement under applicable law or regulation. Nothing in this
press release shall be construed as a profit forecast.
Aldermore
Aldermore is an SME-focused bank which operates with modern,
scalable and legacy-free infrastructure. It offers simple financial
products and solutions to meet the needs of underserved Small and
Medium-sized Enterprises (SMEs) across their business and personal
lives, as well as homeowners and savers. Aldermore has no branch
network but serves customers and intermediary partners online, by
phone and face to face through its network of regional offices
located around the UK. Building on its core values of being
reliable, expert, dynamic and straightforward, Aldermore aims to
deliver banking as it should be. Established in 2009, Aldermore has
grown significantly. At the end of September 2015, lending to
customers stood at GBP5.8 billion and customer deposits totalled
GBP5.4 billion. For more information, please visit
www.aldermore.co.uk.
Aldermore Bank PLC is an operating entity of Aldermore Group
PLC. In March 2015, Aldermore Group PLC's shares (ALD.L) listed on
the Main Market of the London Stock Exchange. Aldermore Bank PLC is
regulated by the Prudential Regulation Authority and the Financial
Conduct Authority and is registered under the Financial Services
Compensation Scheme.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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