May 11 British bank Aldermore Group Plc
said first-quarter lending rose 6 percent from the prior
quarter, buoyed by strong demand from small- and medium-sized
businesses, homeowners and landlords.
The bank, founded in 2009 by a former Barclays executive
with backing from private-equity firm AnaCap, said net loans
rose to 7.9 billion pounds ($10.23 billion) at the end of March
from 7.5 billion pounds on Dec. 31.
"Subsequent to this active period and regulatory changes to
affordability tests for buy-to-let mortgages, we continue to
anticipate a lower level of growth for the second quarter of
2017," Chief Executive Phillip Monks said in a statement.
The challenger bank said it expects to deliver loan growth
in its guided range of 10-15 percent for the full year.
($1 = 0.7725 pounds)
(Reporting by Tenzin Pema in Bengaluru; Editing by Sunil Nair)