South Africa $31 Billion Financial Services Group FirstRand to Sell UK Aldermore Bank Impacted by $993 Million (£750 Million) Provisions for UK Motor Finance Compensation to Customers, FirstRand Acquired Aldermore Bank for £1.1 Billion ($1.5 Billion) in 2017, Aldermore Bank Founded in 2009
9th April 2026 | Hong Kong
South Africa financial services group FirstRand ($31 billion market value) is reviewing to sell UK Aldermore Bank, impacted by $993 million (£750 million) provisions for UK motor finance compensation to customers. FirstRand acquired Aldermore Bank for £1.1 billion ($1.5 billion) in 2017. Aldermore Bank was founded in 2009. Aldermore Bank – Aldermore backs more people to go for it, in life and business. We get finance to people who want to get on in life; building businesses, buying property and purchasing vehicles. And we champion equality by supporting those that the big traditional banks can’t or won’t help. The Group consists of two operating companies, Aldermore Bank plc and MotoNovo Finance Limited. Aldermore Bank provides finance to business owners, homeowners and landlords, and supports savers. It operates online, by phone and through networks. MotoNovo Finance helps people buy their next car, van or motorcycle. Aldermore Group is part of FirstRand Group, the largest financial services group in Africa by market capitalisation. FirstRand – Listed on the JSE and the NSX, FirstRand Limited is the largest financial institution by market capitalisation in Africa. The group provides a comprehensive range of financial services in South Africa and certain markets in broader Africa. It also offers certain niche products and services in the UK and India. FirstRand follows a multi-branding approach. Its portfolio of financial services businesses include FNB, RMB, WesBank, Ashburton Investments, Aldermore, MotoNovo, DirectAxis and MotoVantage. Many are leaders in their respective segments and markets, offering transactional, lending, investment and insurance products and services The FirstRand Corporate Centre houses many of the critical functions required by a large and complex financial services group.
“ South Africa $31 Billion Financial Services Group FirstRand to Sell UK Aldermore Bank Impacted by $993 Million (£750 Million) Provisions for UK Motor Finance Compensation to Customers, FirstRand Acquired Aldermore Bank for £1.1 Billion ($1.5 Billion) in 2017, Aldermore Bank Founded in 2009 “
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South Africa $31 Billion Financial Services Group FirstRand to Sell UK Aldermore Bank Impacted by $993 Million (£750 Million) Provisions for UK Motor Finance Compensation to Customers, FirstRand Acquired Aldermore Bank for £1.1 Billion ($1.5 Billion) in 2017, Aldermore Bank Founded in 2009
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