News Article

Aldermore Invoice Finance announces redundancies

Listed challenger bank Aldermore is set to embark on a round of redundancies at its invoice financing arm.

A statement issued by the bank said it was planning to "streamline" its invoice finance team structure and "this may unfortunately result in a reduction in the number of roles across our regional network".

The statement added: "We are currently consulting with those impacted regarding their individual roles and alternative roles within the bank."

But Aldermore said it remains committed to increasing the support it provides to small and medium-sized enterprises (SMEs) and the cuts would not affect its customer base.

"In the first six months of 2015, Aldermore increased total lending to SMEs by £270m or 12per cent to £2.5bn."

Aldermore is headquartered in Peterborough and floated on the London Stock Exchange in March.

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