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Aldermore business finance loans hit £1.9bn

Martin Greenland | 16:11 Thursday 10th August 2017

Aldermore has reported that its business finance loans have risen by 8% in H1 2017 to £19bn.

The specialist bank has released its H1 2017 financial results which also revealed that profit before tax was up by 32% to £78m (H1 2016: £59M).

Other highlights from Aldermore's H1 2017 results, include:

• mortgages up 9% to £6.2bn
• loan origination up by 10% to £1.6bn (H1 2016: £1.5bn)
• loan growth up 8% to £8.1bn (FY 2016: £7.5bn), with a pipeline of £800m (H1 2016: £0.7bn)
• return on equity of 19% (H1 2016: 16%)
• basic earnings per share up 45% to 14.9p (H1 2016: 10.3p)

“We have made excellent progress during the first half of 2017, building on our track record of delivery in loan growth, deposit growth and profitability, leaving us well positioned entering the second half with a strengthened capital position and a strong pipeline of new lending,” said Phillip Monks, CEO of Aldermore (pictured above).

“We have continued to adopt a balanced approach to growth through strong organic origination and a consistent, robust approach to risk management.

“We approved £1.6bn of new customer loans in the period taking total lending to customers to more than £8.1bn."

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