Aldermore Group PLC Q1 Trading Update (1247N)
May 14 2015 - 2:01AM
UK Regulatory
TIDMALD
RNS Number : 1247N
Aldermore Group PLC
14 May 2015
14 May 2015
Aldermore Group PLC
Q1 2015: Continued momentum and a strong start to the year
On track to achieve targeted GBP1.4bn of net new lending in
2015
-- Net lending to customers up by 7% in Q1 to GBP5.1bn (FY 2014: GBP4.8bn)
-- Organic loan origination of GBP568m, up by 9% on Q1 2014
-- Net interest margin in line with management expectations
Continued growth in online deposit franchise
-- Total customer deposits up by 4% to GBP4.7bn (FY 2014: GBP4.5bn)
-- Strong growth in SME deposits, up by 10% to GBP1.1bn (FY 2014: GBP1.0bn)
IPO successfully completed
-- Admitted to the LSE on 13 March 2015, raising GBP75m of gross primary equity
Strong capital position in excess of targets
-- Fully loaded CRD IV CET1 capital ratio of 12.3% (FY 2014: 10.4%)
-- Total capital ratio of 16.4% (FY 2014: 14.8%)
-- Leverage ratio of 7.4% (FY 2014: 6.3%)
Phillip Monks, CEO commented:
"It has been an exciting and busy quarter for the Group and our
achievements to date give us confidence as we look forward to the
rest of this year and beyond.
"Organic origination continues to be strong and we granted new
loans of GBP568 million in the first three months of 2015. Net
lending to customers now exceeds GBP5.1 billion, of which GBP2.4
billion is to SMEs and GBP2.7 billion is to homeowners,
demonstrating our ongoing support for these underserved customer
groups.
"We remain on track to deliver our targeted GBP1.4 billion of
growth in net lending for 2015 which equates to an expected full
year growth rate of around 30%.
"Double digit growth in SME deposits provides continued funding
diversification as lending remains primarily funded by our dynamic
online savings franchise."
Notes to editors:
1. Capital ratios as at 31 March 2015 include Q1 2015 profits
**Ends**
Enquiries:
Analysts Media
Claire Cordell Holly Marshall
Tel: +44 (0) 20 Tel: +44 (0) 20 3553 4218
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 disenfranchised and
underserved Small and Medium-sized Enterprises (SMEs), homeowners
and savers across both their business and personal lives.
Aldermore has no branch network but serves customers and
intermediary partners online, by phone and face to face through its
network of twelve regional offices located around the UK.
Building on its core values of being reliable, expert,
straightforward and dynamic, Aldermore aims to deliver banking as
it should be.
Established in 2009, Aldermore has grown significantly and now
has more than 850 employees. At the end of March 2015, lending to
customers stood at GBP5.1 billion and customer deposits totalled
GBP4.7 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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