DF Capital reports a record breaking 2025 performance
DF Capital (“The Bank”), a specialist bank providing financial solutions that support manufacturers, dealers and distributors across the UK, today announced its 2025 financial results, reporting its best year to date. strengthening its position across specialist lending niches and deepening existing dealer and manufacturer partnerships. The Bank delivered double-digit growth across lending, revenue and profitability, while continuing to invest in new products and capabilities to support its medium-term expansion.
Outstanding growth
DF Capital’s loan book grew by 27% to £846m (FY24: £666m), achieved through a diversified portfolio of inventory finance, structured finance and asset finance product segments, across industrial, marine and specialist automotive sectors. This growth translated into revenues of £90.9m up 19% (FY24: £76.7m), reflecting the growing momentum across the business. Profitability also improved, with adjusted profit before tax increasing 26% to £18.1m (FY24: adjusted PBT £14.4m), driven by increasing net income and strong cost control.
DF Capital achieved a record number of borrowers, up c.14% to 1,522, and now works with 109 manufacturers across the leisure, marine, specialist automotive, industrial, and transport sectors, with total dealer loan facilities reaching £1.83bn.
Overall, DF Capital’s delivered a strong 2025 performance, completing its fourth year of profitability, highlighting the strength of the growth strategy and ongoing commitment to supporting its dealer and manufacturer partners.
Launch of consumer lending
A key driver of future growth is the Bank’s new digital asset finance proposition, DFRNT, launched following regulatory approval in 2025.
Initially focused on motorhome and caravan dealers, the platform has since expanded into wider sectors including industrial, marine and specialist automotive. The product contributed £15m of lending in its first year and targets a market significantly larger than the Bank’s core inventory finance offering.
Clear pathway to medium term growth
The Bank remains confident in its medium‑term strategy and is on track to deliver its previously stated targets through to 2028, while also progressing toward its recently announced 2030 ambitions of:
- A loan book of over £1.5bn
- A cost-to-income ratio of 45%–48%
- A return on required equity of around 20%
DF Capital expects to fund this growth from retained earnings, without the need for an equity raise, and to grow tangible net assets by 10%–15% per annum.
Strong new loan momentum has continued into 2026, supporting further growth in the loan book, with the Bank expecting to continue building market share in core inventory finance while accelerating momentum in asset finance as rollout broadens across additional markets.
DF Capital remains well positioned to deliver sustainable growth in lending and earnings, with the FY26 closing loan book expected to exceed £900m.
Carl D’Ammassa, chief executive officer, commented: “I’m proud of these outstanding results, undoubtedly our best year so far. We have delivered on our financial targets, exceeding expectations in almost all areas; launched new products and services; continued to invest in technology and delivered record breaking results. We’ve launched our new asset finance product through our “DFRNT” brand, built from the ground up to provide customers with a first-class digital experience. Momentum will build in this new area through 2026 as we tap into annual sales of over £10bn across our existing manufacturer and dealer base.
“The market opportunities ahead of us as a multi-product lender, whilst always being committed to the niche segments in which we operate, are significant. We have all the tools in our armoury to deliver on our ambitious medium-term objectives through to 2030, building on these exceptional 2025 results. The foundations are all in place and I’m excited for the Group’s future prospects.”
You can read the full regulatory announcement here: https://www.londonstockexchange.com/news-article/DFCH/final-results/17513889