Aldermore sees no fall out from Brexit
'‹'‹Challenger bank Aldermore reported a better-than-expected 45 per'‹ '‹cent jump in first'‹ '‹half underlying pre'‹-'‹tax profit and said it ha'‹s'‹ not yet seen a direct impact on its business from Britain's vote to leave the European Union.
The bank, founded in 2009 by a former Barclays executive with backing from private-equity firm AnaCap, said it would pass on the full reduction from the Bank of England's interest rate cut to both its lending and deposit customers.
Talking about the Bank of England's Term Funding Scheme, which will provide four-year funding for banks at interest rates close to the Bank Rate, Aldermore said it would review the details once they become available to understand how the scheme can be "most efficiently" utilised.