Updates

Aldermore

September 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The precise same trends that have been boosting OneSavings have also clearly benefited Aldermore, another recent challenger bank featured in SCSW.Net loans to customers grew to £5.4bn and again were predominantly funded by customer deposits that increased to £5bn. This growth was entirely organic.Underlying pretax profit grew by 109% to £43.6m from £20.8m, a better than expected result due to low levels of impairments. Cost to income ratio came down from 64% to 53%. Return on equity went up to 18.6% from 11.7% year-on-year helped by a widening of the Net Interest margin (NIM) from 3.3% to 3.6%.Of course, versus OneSavings Bank, Aldermore has a different mix with Residential Mortgages (54% o ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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