March 20, 2012 / 9:13 AM / 5 years ago

UK bank Aldermore joins British credit easing plan

LONDON, March 20 (Reuters) - Aldermore, one of a clutch of new British banks to have emerged after the 2008 credit crisis, said it had signed up to a new 20 billion pound ($31.8 billion) credit easing scheme to help small companies but said more needed to be done for businesses.

"While the roll out of this scheme is important, it is only part of the story. A lot more still needs to be done to increase the volume of funding to SMEs (small-and-medium-sized enterprises)," said Aldermore Chief Executive Phillip Monks.

"We will continue to work with the Treasury to find more ways to help British business succeed," he added.

Monks said Aldermore had lent 771 million pounds to more than 9,000 small and medium sized businesses since launching 2009.

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