May 11, 2017 / 6:27 AM / 7 months ago

British bank Aldermore's first-quarter lending grows

May 11 (Reuters) - British bank Aldermore Group Plc said first-quarter lending rose 6 percent from the prior quarter, buoyed by strong demand from small- and medium-sized businesses, homeowners and landlords.

The bank, founded in 2009 by a former Barclays executive with backing from private-equity firm AnaCap, said net loans rose to 7.9 billion pounds ($10.23 billion) at the end of March from 7.5 billion pounds on Dec. 31.

“Subsequent to this active period and regulatory changes to affordability tests for buy-to-let mortgages, we continue to anticipate a lower level of growth for the second quarter of 2017,” Chief Executive Phillip Monks said in a statement.

The challenger bank said it expects to deliver loan growth in its guided range of 10-15 percent for the full year.

$1 = 0.7725 pounds Reporting by Tenzin Pema in Bengaluru; Editing by Sunil Nair

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