Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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This is some hefty buying....
British consumers are upbeat after General Election outcome: U.K. shoppers were slightly less confident this month, but confidence levels remain relatively high, according to survey figures published
Lloyds and Aldermore lead SME loan rise: Bank lending to small businesses picked up at last in the first quarter, Bank of England figures showed.
New 'challenger' banks are outperforming the 'Big Five' high street banks, and the larger lenders need to examine better ways of standing out in the market, according to a report by KPMG. The reported said that new banks in the UK are securing stellar returns, as they pick up "the whitespace left behind following the financial crisis", which includes areas such as small business lending, second charge mortgages, invoice financing and unsecured lending. KPMG's report revealed that lending at the recently formed band of British banks increased by 16% last year, compared with a 2.1% drop at Britain's big five banks - Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander. Smaller challenger banks such as Metro and OneSavings were said to be growing at faster than larger challengers like Virgin Money and TSB. The report also indicated that smaller challengers achieved an average return on equity - a key measure of profitability - of 18.2% last year, compared with 2.1% at larger challenger banks and 2.8% at the Big Five. Warren Mead, head of challenger banking and alternative finance at KPMG, said: "Although the overall challenger banking sector is growing rapidly and securing greater returns, it is the small challengers who are driving its growth." "The large challengers are looking very similar to those of the traditional banks. To ensure they remain differentiated, they must review their brand, distribution, products, culture and customer service," added Mead.
Will go up further as 250 trackers buy in
U.K. banks appoint Sants to lead review of competitiveness: Sir Hector Sants has been appointed to review the competitiveness of British banks on behalf of the industry, stepping up pressure on the newly elected government to soften its recent regulatory and fiscal clampdown.
Metro Bank customers to borrow through P2P site: Metro Bank has struck a deal to become the first British bank to lend through a peer-to-peer platform, fuelling concerns that institutions are crowding out individual investors from the rapidly growing sector.
Invested in this today on back of results... As they say small acorns...
It all helps. The only issue I can see is that AnaCap holds over 50% which is way too much. I imagine they will be looking to sell some of that down, and in doing so they will hold back the underlying sp (a little bit like Caledonian and its stake in EMR). However this is a good company and I am happy to hold and wait as I doubt the sp will actually go down. GLA GS
Banking newcomer Aldermore posts 7% increase in first quarter lending both to homeowners and small businesses: British banking newcomer Aldermore Group saw its lending rise 7% in the first quarter as it added more customers including homeowners and small and medium-sized businesses.
A good set of results plenty of growth to come. this is my second biggest holding after NSF which i think has a great future.
What I like about this company (compare and contrast with TUNG for instance) is that they do the boring things well. All the numbers seem to be in line with their outlook for the year and since they are growing at a rate of knots that is good enough for me. With FTSE250 entry looking as certain as is possible they will also get a rerate in the next couple of months. All is good - just my kind of share. GLA GS
any views on the RNS? seems perfectly fine to me with everything on track
Is this price surge to do with FTSE250 entry? On its present market cap ALD is certain of a place when the membership of the index is recalculated (mkt cap next month, announced in Aug? - I think) GS
Nice little write up in a tip sheet this weekend says should rise over the next couple o months f due to tracker funds buying in.
Gilts strike as foreigners shun U.K. on gridlock fears: Foreign investors are slashing holdings of British gilts at a record pace on concerns over electoral gridlock and the long-term stability of sterling.
U.K. banks: when the cards are down: The ultra-low reading is the result of accelerating U.K. economic growth, low interest rates, higher property prices, banks’ sale of dodgy property loans, lending deemed problematic mid-crisis that came right, and fewer bad loans generally. True, S&P’s cheery picture is skewed by Royal Bank of Scotland, which took a very low £101 million loan impairment charge in the U.K. last year after writing down a whopping £3.6 billion in 2013. But the lower charge still suggests improving property lending. Not at this level — and that is why investors will watch for any significant increases. The rating agency predicts higher overall loan losses of 0.28% of book this year. But that is still less than half the average clip of the past 25 years. The concern is the banks’ (mostly unsecured) consumer lending, traditionally a big source of write-offs. While the loan-loss ratio on retail mortgages and corporate lending fell to just 4 basis points last year, the ratio on consumer credit, though down almost 90bp, was still a much higher 2.05% of lending. Consumer credit was up 6.6% last year; S&P expects it to rise by 8% this year, driving up credit losses. Consumer stress could return if taxes rise post-election, or interest rates begin to climb.
Atom Bank keeps faith with wearable technology: The Chief Executive of Atom Bank is looking to wearable technology for the future of banking in spite of concerns about customers resistance
U.K. banks stem domestic loan losses: U.K. banks’ losses from domestic loans plummeted last year to “exceptionally low” levels, in a trend that is expected to continue as the economic recovery gathers pace, according to Standard & Poor’s
Specialist British bank Shawbrook made a stunning stock market debut on Wednesday in London with shares rallying to 305p, well above the top of its preset price range of 290p. Shawbrook is seen as a new breed of British bank entering a market dominated by big institutions like Royal Bank of Scotland and Barclays. The floatation comprises 75,000,000 ordinary shares, representing 30% of the company's ordinary shares that will be in issue at admission. It gives the company a market capitalisation of £725m. It is expected to raise gross proceeds of approximately £90m for Shawbrook. Bank of America Merrill Lynch and Goldman Sachs were appointed to handle the initial public offer. "Our focus remains on providing UK customers with a fresh, pragmatic approach to lending and savings whilst driving further growth by maximising opportunities in existing markets, capitalising on the embedded growth in our current loan book and developing a range of products to facilitate expansion into adjacent segments," said Richard Pyman, chief executive of Shawbrook. Pyman added that Shawbrook continues to deliver on its strategy to "become an increasingly well-known name in the specialist world of British banking." Last month, challenger bank and specialist lender Aldermore, a similar business to Shawbrook raised £75m in a successful IPO, which triggered a rally in the stock price.
Easier account switching could fuel bank runs, says BBA: Banks have warned that they are more vulnerable to a run on deposits now that digital systems allow customers to move large sums or switch their account to a different lender at the touch of a button.
Several reports in the press over the weekend that ALD is a takeover target. It may not have a long life as an independent business.
I agree and have bought a load for my SIPP. The bank offers interesting long term potential. I have no doubt there are very ambitious plans to roll-out the formula and frankly, they are pushing at an open door with SME owners, who have been so thoroughly let down by our useless High Street banks. I don't expect much action on this bb though!
I bought in today for my long term portfolio along side Virgin bank they have a good growth record and i think theres plenty to come.
well today is the last day of ALD trading and it has provided me with a right merrygoround of ups and downs. Many months ago in my last post i reaffirmed my confidence in ALDs long term position. It did hit the low 90's from the highs of 230, and even before when it hit 44 from 15,before the shares were diluted..Some people have made money,but quite a few have lost a lot..I still affirm that if a company has sound basics long term investing should produce a reasonable return.If you deal short term, you are gambling and must be prepared for any adverse consequences. I am now waiting to receive my allocation of St.Barbara shares,which i am confident will return to previous levels and increase its share price as ALD finally fulfills its great potential. Thank you ALD for never making the stock market boring.