Allica Bank
General Information
Overview
Allica began life as Civilised Bank, which was awarded a banking licence in May 2017, although it had to hand this back a year later having failed to meet the regulatory requirements to exit mobilisation. Having developed its technology platform, had changes in its executive team and rebranded as Allica, the bank was authorised in September 2019. It launched its first savings products on 1st April 2020.
Banking Licence
Allica have their own banking licence which isn’t shared with any other banks
Registration Numbers
Companies House Number: 7706156
Financial Conduct Authority: 821851
Based: Milton Keynes but with an office in London
Date Launched: September 2019
FSCS Protected? Yes
Branches: Allica does not have any branches
People of Interest
Head of Savings
Lawrence Holland
Chief Executive
Richard Davies
Saving Information
No. of Savers
Unknown - estimated at circa 20,000
Amount of Deposits
£800m as at 31st December 2021
Loan Book
£560m as at 31st December 2021
Account Opening and Management
How Do I Open a Savings Account
Internet
How Do I Manage a Savings Account
Internet
Lending Activities
Allica has four principle areas of lending:
1) Asset finance - lending £25,000 - £500,000 to businesses to finance assets such as plant and machinery, manufacturing and production equipment and transportation
2) Commercial mortgages - lending £150,000 - £5m to businesses to purchase their own premises or to purchase commercial premises to rent to other businesses
3) Buy to let mortgages - Allica has agreed a five year funding partnership with specialist buy to let mortgage lender Landbay, to fund up to £200m per annum of residential buy to let mortgages
4) SME lending - Allica acquired a £0.6bn portfolio of commerical lending from Allied Irish Bank, in November 2021
Reviews
Feefo Reviews
No reviews on Feefo
Trustpilot Reviews
Savings Guru Verdict
Allica Bank has offered a small selection of savings products since its launch in April 2020 - a 95 Day Notice Account, and 1 & 2 Year Fixed Rates for both personal and business customers. These have only generally been offered for short periods of time because it's still very much in its infancy and its small lending book means its got limited capacity for new savers. Hopefully its purchase of AIB's UK SME lending portfolio and its deal with Landbay will see it become a more consistent name in our savings tables as it funds those books and their own organic growth.
Contact Information for Allica Bank
Contact Details
Address: 500 Avebury Blvd, Milton Keynes, MK9 2XX
Telephone: 0330 094 3333
Website: https://www.allica.bank/
Email: customer.services@allica.bank
Open: Monday to Friday, 9am - 5pm