Aldermore unfazed by global turmoil in banking world

Challenger bank Aldermore reckons it will skirt global uncertainty caused by the Trump presidency thanks to being entirely UK focused.

The lender to small and medium-sized businesses says clients are back borrowing and growing, after a period of nervousness in the wake of the EU referendum.

Chief executive Phillip Monks is even talking about paying a dividend to investors — who could do with a boost.

Shares floated at 192p in March last year but have been biffed by banking turmoil since then. Today they gained 10p to 200p — a relief to Monks. He said: “We were somewhat uncertain at the half year, but we’ve seen no changes in customer demand.”

He says a move to “capital self-sufficiency” allows Aldermore, set up by Monks and backed by private equity, to consider a first dividend before long.

Monks told the Standard: “The good thing for us is that we are UK focused.

“What we are seeing now are grumpy post-Brexit economists upgrading their forecasts.”

In the third quarter, loans were up 15% to £7.1 billion. The capital ratio — a measure of solidity — was up to 11.5%.