Key financial figures for Aldermore Group PLC 2019-2020

The Aldermore Bank Group plc is a United Kingdom (UK) headquartered retail bank that specializes in providing financial services to small and medium sized businesses (SME's). In the year ending June 30th, 2020 Aldermore Bank net loans to customers came to a value of approximately 12.43 billion British pounds (GBP).

Challenger banks

The term 'Challenger Bank' is used as a description of banks and financial services that were created after the Global Financial Crisis and have made significant impact in 'challenging' incumbent large banks or have had a significant impact on the market. KPMG describe four main areas in which challenger banks have appeared in the market in the United Kingdom. These include full-service retail banks such as CYBG/Virgin Money, Metro Bank, TSB Bank and the Co-op, Specialist lenders such as OneSavings Bank and Aldermore, retailer banks including Tesco's and Sainsbury's and Digital Banks. As the newest and perhaps the most exciting facet of challenger banks, Digital banks are mobile app-based banks that do not have a physical presence on the high street. Due to their simplicity and ease of use they have attracted significant attention from customers and investors alike.