Aldermore says loans to SMEs have risen 75pc
BRITISH bank Aldermore said its loan book to small and medium-sized enterprises (SMEs) was up 75 per cent to £469m at the end of the first-quarter.
“Aldermore is continuing to lend at record levels to small businesses – our outstanding loan book to SMEs has increased 75 per cent over the last year – but clearly not all banks are willing or able to increase small business lending,” chief executive Phillip Monks said.
Last week, the Bank of England said leading lenders — principally Barclays, HSBC, Lloyds and Royal Bank of Scotland – had missed targets for lending to small businesses.
Aldermore, set up in 2009, is backed by private equity companies AnaCap and Morgan Stanley Alternative Investment Partners.
In April, Monks called on the Independent Commission on Banking to ringfence retail bank deposits from investment banking units.