DF Capital, a provider of working capital for SMEs, has supported UK brokers and manufacturers with over £1bn in loans since the firm opened for business in 2017, it has announced.
The newly authorised commercial lending and savings bank – which was granted a UK banking licence in September 2020 – also revealed it has raised over £145m of deposits since the launch of its savings products in October 2020.
Carl D’Ammassa, DF Capitals CEO, was upbeat about the firm’s performance during 2020, despite all the “uncertainties and headwinds”.
D’Ammassa said: “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.”
Retail deposits now entirely support the firm’s commercial lending loan book and help contribute to the growth of SMEs in the UK.
DF Capital was incorporated in May 2016 and works in a variety of sectors, including motorhome; lodge/holiday home; motorcycles/all-terrain vehicles; marine; agriculture; industrial and transport.
Andy Stafferton, chief commercial officer at DF Capital, said the firm is well-placed to support clients through a third national lockdown: “We have surety of funding and a clear appetite to support the strong demand they have for our products.
“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.”
DF Capital is a trading name of DF Capital Bank Limited, which is a subsidiary of Distribution Finance Capital Holdings plc.