10th Mar 2016 07:51
LONDON (Alliance News) - Aldermore Group PLC, which lends to smaller businesses, homeowners and landlords in the UK, on Thursday said annual profit grew as net lending jumped by 28% in 2015 and customer numbers rose by 27% to around 71,000.
Pretax profit grew to GBP94.7 million in 2015, the lender said, from GBP50.3 million in 2014. Net loans to customers were up by GBP1.3 billion or 28% to GBP6.1 billion. Even though the increase in net lending was below Aldermore's target of around GBP1.4 billion, the company said it represented a "very strong" performance.
Aldermore said that "prudent lending growth" drove an increase in net interest income to GBP198.9 million in 2015 from GBP140.2 million in 2014.
The increase in net lending was driven by strong double-digit growth in asset finance and the company's mortgage portfolios, Chief Executive Officer Phillip Monks said.
"We are committed to supporting the UK's SMEs, homeowners, landlords and savers who are often under- or poorly served by the wider market. We have a clear and differentiated growth strategy and remain both excited about the opportunity in our chosen markets and confident of our ability to deliver continued strong profitable growth and attractive, sustainable returns for shareholders," Monks said.
By Samuel Agini; [email protected]; @samuelagini
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