Aldermore said the figure has been achieved as a result of a number of developments across the bank’s asset finance division, including the extension into new industrial sectors such as telecoms and IT, as well as recruiting additional resources in its specialist underwriting function.
Aldermore made its first acquisition in June, acquiring a 48 per cent minority equity stake in the asset and commercial finance funder, AFS Group Holdings Limited.
Carl D’Ammassa, the group managing director for business finance at Aldermore, said: “We are delighted to have reached such a significant milestone this year and would like to thank the broker community for providing us with the opportunity to increase our lending to UK businesses.
“SMEs (small-and-medium-sized enterprises) are the backbone of the economy and it is vital we continue to listen and deliver on their ever-changing needs. While showing our deep understanding in a broad range of asset classes, we remain dedicated to helping SMEs seek and seize opportunities to grow. Our ability to differentiate Aldermore through the specialist nature of our underwriting and service to brokers, positions us well for the future.”
Asset Finance forms part of Aldermore’s newly created business finance division.