Aldermore Group said it was on target to reach its net loan growth of £1.4bn in its Q3 results.

The challenger bank’s organic loan origination of £1.9bn year-to-date was up 12% on last year, while lending to SMEs up by 19% to £2.7bn (31 December 2014: £2.2bn).

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The bank said its online deposit franchise had matched its lending growth, with customer deposits up by 20% to £5.4bn, with SME deposit growth up by 28% to £1.3bn.

No figures were provided for revenues and profits.

Aldermore chief executive Phillip Monks said: "Macro-economic conditions and the credit environment remain relatively benign in the UK, with base rates unchanged and continued growth in our target markets. We are on track to deliver net loan growth of around £1.4bn in 2015 while maintaining our margins, robust capital position and prudent risk appetite.

"We remain excited about the opportunity we face and confident of our ability to build on our proven track record of delivery for both customers and shareholders during the rest of this year and beyond."