Overview
Aldermore was the first of the new wave of banks to open after the financial crisis of 2007/8. It was the reincarnation of Ruffler, the private bank, which was bought by Anacap, and renamed Aldermore. In March 2019, Aldermore became part of South African financial services firm, FirstRand Group.
Banking Licence
Aldermore have their own banking licence which isn’t shared with any other banks
Registration Numbers
Companies House Number: 947662
Financial Conduct Authority: 204503
Based: Head Office is in Peterborough, but Aldermore has offices in London, Manchester, Wilmslow, Reading and Newcastle
Date Launched: May 2009
FSCS Protected? Yes
When you save with Aldermore you have the added peace of mind that comes from knowing your money is protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit. 4,928 likes 25 talking about this. We're Aldermore, an award-winning Bank here to help you make things happen. Follow us for all our latest news or if you need any help. Login to your Personal Savings account, Business Savings account, Invoice Finance Account, Mortgages portal or Asset Finance Proposal portal.
Branches: Aldermore does not have any branches
Chief Executive
Philip Monks
No. of Savers
Unknown but estimated at circa 200,000
Amount of Deposits
£10.1bn (as at 31st December 2019)
Loan Book
£12bn (as at 31st December 2019)
How Do I Open a Savings Account
Internet
How Do I Manage a Savings Account
Internet, Post, Telephone
Lending Activities
Aldermore has six principle areas of lending:
Feefo Reviews
Feefo reviews are available on Aldermore’s website alongside each individual product
Trustpilot Reviews
Aldermore is the longest established of the new wave of banks who have entered the market since the financial crisis. It now looks after over £10bn of deposits and offers the widest range of savings accounts to personal savers.
While it is rarely the best buy, Aldermore consistently offers competitively priced savings which are above those available from the big five banks.
Contact Details
Aldermore 1st floor,
Block B Western House
Lynch Wood
Peterborough
PE2 6FZ
Telephone:
0345 604 2678 (Personal savings)
0345 1733 321 (Business savings)
Website: https://www.aldermore.co.uk/
Email: service@aldermoresavings.co.uk (Personal savings)
businesssavings@aldermore.co.uk (Business savings)
Monday – Friday 9am – 5pm, Saturday 10am – 1pm (Personal savings)
Monday – Friday 8am – 6pm (Business savings)
Type | Public |
---|---|
LSE: ALD FTSE 250 Component | |
Industry | Finance |
Founded | 2009 |
Headquarters | Reading, Berkshire |
Key people | Pat Butler (Chairman) Phillip Monks (CEO) |
Products | Financial services |
Revenue | £358.2 million (2016)[1] |
£144.2 million (2016)[1] | |
£93.5 million (2016)[1] | |
Website | www.aldermore.co.uk |
Aldermore Bank is a retail bank which provides financial services to small and medium-sized businesses. 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 First Rand in March 2018.
Aldermore was established with backing from private equity company, AnaCap Financial Partners LLP, in early 2009.[2]
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.[3]
AnaCap purchased Cattles Invoice Finance, a factoring business, from Cattles PLC in 2009, and in 2010 the division became part of Aldermore.[4]
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[5] and it received an additional capital investment from Centerbridge Partners when it issued a £36 million subordinated bond in May 2012.[6]
In 2012 the bank reached its first full year of profits in its third year of operations.[7]
Aldermore was recognised as a challenger bank by the media,[8] and launched a successful initial public offering in March 2015,[2] with an opening market capitalisation of approximately £651 million.[9]
In October 2017 it was announced that Aldermore had agreed to be acquired by South African banking conglomerate First Rand. The deal valued Aldermore at £1.1bn.[10]
Aldermore provides financial services to small and medium-sized businesses.[11] Its services include retail and business savings and asset and invoice finance, as well as commercial and residential mortgages.[12]
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.[13]
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.[14]
Aldermore is the sponsor of the National Association of Commercial Finance Brokers (NACFB),[15] and a member of the Council of Mortgage Lenders.[16] Aldermore is a member of the following bodies: the British Bankers' Association,[17] the Finance and Leasing Association,[18] the Asset Based Finance Association,[19] the Council of Mortgage Lenders[20] and the Intermediary Mortgage Lenders Association.[21]