Aldermore Group PLC Q1 2016 Update (9937X)
May 12 2016 - 2:00AM
UK Regulatory
TIDMALD
RNS Number : 9937X
Aldermore Group PLC
12 May 2016
12 May 2016
Aldermore Group PLC
Q1 2016: A strong start to the year
Excellent loan origination; up by 43% to GBP814m (Q1 2015:
GBP568m)
-- Business Finance origination up by 18% to GBP272m (Q1 2015: GBP230m)
-- Mortgage origination up by 60% to GBP542m (Q1 2015: GBP338m)
o Buy-to-Let origination very strong at GBP327m, up by 144% (Q1
2015: GBP134m)
-- Net loans to customers up by GBP0.4bn or 6% to GBP6.5bn (31 December 2015: GBP6.1bn)
-- Now supporting c74,000 lending customers (31 December 2015: c71,000)
Lending growth funded by deposits
-- Total deposits up by 7% to GBP6.2bn (31 December 2015: GBP5.7bn)
-- Deposit customer numbers up by 8% to c133,000 (31 December 2015: c124,000)
Strong capital position maintained
-- CET1 capital ratio(1) of 11.5% (31 December 2015: 11.8%)
Phillip Monks, CEO, commented:
"We have made an excellent start to the year with our best ever
quarter of origination as we delivered double digit growth in new
lending in both our Business Finance and Mortgages divisions. We
took advantage of the anticipated extra demand for buy-to-let
mortgages, ahead of the introduction of the additional stamp duty
from 1 April 2016, and more than doubled our buy-to-let origination
compared with the first quarter of 2015.
"As a result, we have increased net lending by 6% since the
start of the year with deposits continuing to grow to support our
lending activity.
"Market conditions in the first quarter of 2016 remain broadly
consistent with those experienced last year, with a relatively
benign credit environment and interest rates unchanged. We continue
to focus on our strategy of supporting UK SMEs, homeowners,
landlords and savers and remain confident of delivering on all of
the guidance we set out with our recent 2015 full year results,
including generating nominal net loan growth in line with recent
run rates and strong returns on equity."
(1) Fully loaded CRDIV CET1 ratio as at 31 March 2016 includes Q1 2016 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
Mobile: +44 (0) 7771 978 220
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 Group PLC is a specialist lender and savings bank
offering straightforward products to Small and Medium-sized
Enterprises (SMEs), homebuyers and individuals, who we believe are
often under- or poorly served by the wider market. 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 March 2016, lending to customers
stood at GBP6.5 billion and customer deposits totalled GBP6.2
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
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