12th Nov 2015 08:20
LONDON (Alliance News) - Aldermore Group PLC on Thursday said it is on track to meet its target of growing net loans by about GBP1.40 billion in 2015, and that it will do so while maintaining its margins, capital position and risk appetite.
"Macro-economic conditions and the credit environment remain relatively benign in the UK, with base rates unchanged and continued growth in our target markets," Chief Executive Phillip Monks said in a statement.
The lender said that organic loan origination of GBP1.90 billion in the nine months to September 30 was 12% higher than that recorded in the corresponding period the prior year.
Net loans to customers rose by 20% to GBP5.80 billion, the company said, as lending to smaller businesses grew by 19% to GBP2.70 billion and residential mortgages rose by 22% to GBP3.10 billion.
Shares in Aldermore were up 0.4% at 288.00 pence on Thursday morning shortly after the market open.
By Samuel Agini; [email protected]; @samuelagini
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