Aldermore

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British retail bank

title: "Aldermore" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["banks-of-the-united-kingdom", "british-companies-established-in-2009", "banks-established-in-2009", "companies-based-in-reading,-berkshire"] description: "British retail bank" topic_path: "geography/united-kingdom" source: "https://en.wikipedia.org/wiki/Aldermore" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary British retail bank ::

::data[format=table title="Infobox company"]

FieldValue
nameAldermore Bank plc
logoAldermore.svg
former_name{{Ubl
Ruffler Bank plc (19962009)<ref name"CompaniesHouse"
typePublic
traded_as
FTSE 250 Component
foundation2009
locationReading, Berkshire
key_peoplePat Butler (Chairman)
Steven Cooper (CEO)
industryFinance
productsFinancial services
revenue£358.2 million (2016)
operating_income£144.2 million (2016)
net_income£93.5 million (2016)
parentFirstRand
homepage
::

| name = Aldermore Bank plc | logo = Aldermore.svg | former_name = {{Ubl | Lordsvale Finance plc (19691996) | Ruffler Bank plc (19962009) | type = Public | traded_as = FTSE 250 Component | foundation = 2009 | location = Reading, Berkshire | key_people = Pat Butler (Chairman) Steven Cooper (CEO) | industry = Finance | products = Financial services | revenue = £358.2 million (2016) | operating_income = £144.2 million (2016) | net_income = £93.5 million (2016) | num_employees = | subsid = | parent = FirstRand | homepage = | footnotes =

Aldermore Bank plc is a retail bank which provides financial services to small and medium-sized businesses and personal customers. It was founded in 2009 and listed on the London Stock Exchange in March 2015. It was a constituent of the FTSE 250 Index until it was acquired by South African banking conglomerate FirstRand in March 2018.

History

Aldermore was established with backing from private equity company, AnaCap Financial Partners LLP, in early 2009.

The acquisition of Ruffler Bank in May 2009 provided Aldermore with its banking licence and an asset finance business which was combined with the commercial mortgage business of Base Commercial Mortgages, a small mothballed operation.

AnaCap purchased Cattles Invoice Finance, a factoring business, from Cattles PLC in 2009, and in 2010 the division became part of Aldermore.

It raised £62 million of further investment from a consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management, and the Ohio Public Employees Retirement System in August 2011 and it received an additional capital investment from Centerbridge Partners when it issued a £36 million subordinated bond in May 2012.

In 2012 the bank reached its first full year of profits in its third year of operations.

Aldermore was recognised as a challenger bank by the media, and launched a successful initial public offering in March 2015,

In October 2017 it was announced that Aldermore had agreed to be acquired by South African banking conglomerate FirstRand. The deal valued Aldermore at £1.1bn.

Operations

Aldermore provides financial services to small and medium-sized businesses as well as personal customers. Its services include retail and business savings and asset and invoice finance, as well as commercial and residential mortgages.

The bank offers lending across the following areas: asset finance, invoice finance, SME commercial mortgages, buy-to-let mortgages and residential mortgages. Its lending activity is largely funded by the deposits it receives from business and personal savers.

Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its regional offices. It was also the first bank to offer this service and publishes this customer feedback unedited on its website.

The company's board has been chaired by Pat Butler since January 2018. Non-executive directors are Richard Banks, John Hitchens, Harry Kellan, Alan Pullinger, Cathy Turner, Romy Murray, Nicolina Andall and Ruth Handcock.

Affiliations

Aldermore is the sponsor of the National Association of Commercial Finance Brokers (NACFB), and a member of the Council of Mortgage Lenders. Aldermore is a member of the following bodies: the British Bankers' Association, the Finance and Leasing Association, the Asset Based Finance Association, the Council of Mortgage Lenders and the Intermediary Mortgage Lenders Association.

References

References

  1. (1969-02-10). "Aldermore Bank plc overview - Find and update company information - GOV.UK".
  2. "Annual Results 2016". Aldermore.
  3. (15 March 2015). "Aldermore: How the bank formed in the depths of the crisis found success". The Telegraph.
  4. Cave, Andrew. (30 July 2011). "Aldermore - a bank that loves to lend". The Daily Telegraph.
  5. (6 September 2010). "Cattles Invoice Finance rebranded for the second time in a year". Business Zone.
  6. (24 September 2011). "Goldman Sachs takes Aldermore stake". The Telegraph.
  7. (14 May 2012). "Boost for new bank Aldermore as it clinches £36m fundraising". City AM.
  8. Croucher, Shane. (31 July 2013). "Challenger Bank Aldermore Boosts SME and Consumer Lending by 60%". International Business Times.
  9. Grice, Andrew. (12 September 2012). "Cable and Osborne on a Collision Course Over Small-Business Bank". The Independent (UK).
  10. Partington, Richard. (10 March 2015). "Aldermore Raises $340 Million in London Initial Public Offering". Bloomberg L.P..
  11. (2017-11-06). "Aldermore agrees takeover by South Africa's FirstRand - BBC News". Bbc.co.uk.
  12. Hurley, James. (6 May 2012). "Aldermore - A Dads Army Bank For SMEs". The Telegraph.
  13. "Our History". Aldermore Bank PLC.
  14. Leggett, Joseph. (2023-02-24). "Aldermore Business Banking Explained – Savings, Fees & Reviews".
  15. Hurley, James. (6 May 2012). "Aldermore - A Dads Army Bank For SMEs". The Telegraph.
  16. (9 May 2016). "Intro – Aldermore Bank Reviews". Advisory HQ.
  17. "Board of Directors {{!}} Aldermore".
  18. "Board of Directors {{!}} Aldermore".
  19. "NACFB - Working with Lenders". NACFB.
  20. "Directory of Members and Associates". Council of Mortgage Lenders.
  21. [https://www.bba.org.uk/about-us/members/?letter=A BBA Members]. Retrieved 14 February 2017
  22. link. (2017-02-15 . Retrieved 14 February 2017.)
  23. [https://www.abfa.org.uk/members/membersList.asp List of Members] {{Webarchive. link. (2017-02-15 . Retrieved 14 February 2017.)
  24. [https://www.cml.org.uk/about-us/our-members-and-associates/ Directory of members] {{Webarchive. link. (2017-02-15 . Retrieved 14 February 2017.)
  25. [http://www.imla.org.uk/Membership/Members-List/ Members list]. Retrieved 14 February 2017.

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banks-of-the-united-kingdombritish-companies-established-in-2009banks-established-in-2009companies-based-in-reading,-berkshire