Aldermore exceeds £1bn in new business finance lending
Aldermore has provided over £1bn in new lending to small and medium sized enterprises according to its annual financial results.
In 2016 net loan growth in asset finance increased by 17% year-on-year to £1.6bn and invoice finance saw a 56% increase in profit.
Carl D’Ammassa, group managing director of business finance at Aldermore, said: “We have continued our track record of supporting the UK’s small businesses.
“We also expanded our wholesale proposition, with originations up approximately 60% year-on-year.
“We remain dedicated to helping SMEs seek and seize opportunities to grow. Our ability to differentiate Aldermore through the specialist nature of our underwriting, service and brand, positions us well.”
These figures come after Aldermore reported a 2016 profit increase of 34% from 2015 to £133m and saw total deposits increase by 16% to £6.7bn, including SME deposits rising by 18%to £1.6bn.