Aldermore’s asset finance portfolio has exceeded £1bn (1.31bn), according to a statement released by the bank.
The bank said its asset finance team has advanced over £2bn to UK SMEs since 2009, financing plant, machinery, materials handling equipment, office technology and vehicles, and providing wholesale financing, block discounting and providing stocking finance.
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The bank has been consistently recruiting to its asset finance team, adding asset finance head of marketing Sarah Beller and head of flow credit Tim Pulleyn in recent months.
In October Aldermore had to shelve its planned initial public offering (IPO) which it blamed on the deterioration of global equity markets, forcing the Aldermore board and its shareholders to halt the IPO.
Carl D’Ammassa, managing director of asset finance at Aldermore, said: "UK SMEs are increasingly choosing asset finance to fund significant investmentsand the team at Aldermore is clearly providing much needed funding.
To have reached a portfolio of £1 billion and advanced over £2 billion in just five years is a real achievement and testament to the high quality service we provide to our partners."
