DF Capital

DF Capital reaches £1bn of lending

Specialist commercial lending and personal savings bank DF Capital has announced it has provided over £1bn of cumulative funding to dealers and manufacturers since it started lending in 2017.

The business has also raised over £145m of deposits since launching its savings products in October 2020, which include 90-day notice, one-year, 15-month, 18-month and two-year fixed-rate accounts.

The company fully recommenced its lending operation on 4th November 2020, following the build up of the required regulatory liquidity buffers as a new bank after receiving its banking licence in September 2020.

The loan book reached £113m on 31st December 2020, up by approximately 36% from £83m in October 2020.

The bank also announced that retail deposits now entirely support the bank’s commercial lending loan book.

Carl D’Ammassa, CEO at DF Capital, said: “We are delighted, despite all the uncertainties and headwinds, with how we closed 2020. 

“We have a growing loan book, a proven capability to raise deposits and carry no pandemic-related arrears or losses into 2021.  

“Our savings and lending products resonate well with our customers, who continue to look for great service, a bank that is keen to work with them and is easy to do business with.”

Andy Stafferton, COO at DF Capital, added: “As a bank, we feel well placed to support our dealers and manufacturers through this third national lockdown. 

“By forming strong and lasting relationships with our customers, we look forward to helping them protect their cashflow, grow sales and increase their profits well into the future.”

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