Challenger bank Aldermore has confirmed that it has revived plans for a stock-market float after it was forced to pull its planned listing last October amid volatile markets.
“It was always our intention to come back to market,” said chief executive Phillip Monks.
But he would not comment on whether he would try to squeeze the flotation in ahead of May’s general election.
“I can’t comment on timing but we have produced a stonking set of results today,” the Aldermore boss and former Barclays executive added.
Monks also said that he had “never spoken” to TSB, which was reported to have looked but walked away from a £600 million takeover bid.
He said: “Our owners are not trying to find a trade sale.”
Analysts expect Aldermore to be brought to market with a £600 million to £650 million valuation, down from the maximum £880 million it looked for last year.
Pre-tax profits more than doubled to £56 million in 2014 while total loans increased by 42% to £4.8 billion. Savers’ deposits rose 29% to £4.5 billion.
