Scott Maybury, chief executive at PCF, revealed that the lending portfolio had increased by £140m compared with the same period in the previous year (£255m).
According to Scott, the bridging property finance portfolio was £21m as of 29th February 2020.
PCF Group started its bridging property finance business in early 2019.
- Masthaven launches new broker portal offering instant DIPs for bridging
- PCF Bank names new head of business development of bridging arm
- PCF bridging venture sees £14m of originations
Retail deposits also increased, reaching £346m (2019: £202m).
In addition, PCF registered a 30% uplift in new business origination in the five-month period (£127m), compared with the same period in the previous year (£98m).
More than 79% of originations were in the prime credit grades.
Despite the positive results, Scott added that PCF Group would “maintain our cautious risk appetite and remain proactive” towards the challenges posed by the coronavirus and the Brexit transition uncertainty.
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