The new lender has been created out of the recent merger of Ruffler Bank and Base Commercial Mortgages and is funded by Anacap, a private equity firm. It says it has one of the highest tier 1 capital ratios of any British bank.
Aldermore will market a range of asset finance, leasing and commercial mortgage facilities for small and medium sized businesses and fixed rate bonds, notice accounts and ISAs for savers.
Aldermore chief executive Phillip Monks says: “Consumers and businesses do not buy into the misplaced belief of many banks that being big is best. In reality, big often means unfocused, inefficient and insensitive to client needs.
“We’re not trying to be all things to all men and take over our clients’ primary banking relationships. However, we do want to be recognised as the best at what we do.
“Being specialist has proven time and again to be a successful strategy for many thousands of British businesses and I believe banking is no different. It is time for banking to get back to its roots and that is what Aldermore is setting out to do.”