Aldermore Bank is to close its Wilmslow office and is offshoring jobs to India.
The bank which lends to SMEs and property developers, confirmed the closing of the office in prosperous Cheshire town and said some jobs were at risk.
In a statement sent in response to questions from TheBusinessDesk.com: “We’re creating a new team based in India to expand our capacity. As a result, some roles are at risk and wherever possible we will offer redeployment across our other office locations, including Manchester.”
The bank doesn’t have branches, but provides finance to business owners, homeowners and landlords, and offers savings accounts, and operates exclusively online, by phone and through networks.
However, the bank said it is expanding its Manchester office. In 2019 the bank took a ten-year lease at 40 Spring Gardens.
“We are also investing significantly in a revamped Manchester office as part of our continued commitment to the North West, this will provide a high-quality office space for our colleagues. As a result, the Wilmslow office will close,” the statement said.
The Wilmslow office is in Norcliffe House on Station Road.
Aldermore Group was formed during the financial crisis of 2009 as a challenger bank, acquired invoice finance specialist Cattles, floated in 2015 and was sold to FirstRand Group, the largest financial services group in Africa in 2018.
Its two UK brands are Aldermore Bank plc and MotoNovo Finance Limited.
In its last financial results to year ending 30 June 2025 Aldermore Group posted reduced pre-tax profits of £193.5m, down from £253.1m the previous year, which included the impact of a £60.6m charge related to the FCA’s review into historical Motor Finance commissions.
At the time, Steven Cooper, CEO of Aldermore Group said: “Our performance was also bolstered by strong cost management as inflationary pressures remained, despite continued investment in our proposition and our technology. We will remain focused on this disciplined approach to costs and capital allocation, to ensure Aldermore’s long-term resilience and growth.”
