DF Capital celebrates one year of being a bank
DF Capital, the specialist commercial lending and personal savings bank, today celebrated the one year anniversary of being awarded its banking licence by the Prudential Regulation Authority (PRA).
The company, which was founded in June 2016, and then listed on the London Stock Exchange’s AIM market in 2019, initially focussed on providing flexible working capital solutions to dealers and manufacturers across the UK to support the growth of their businesses. When the banking licence was granted in September 2020, DF Capital successfully launched a range of market-leading personal savings products.
Key DF Capital milestones:
- DF Capital has now lent over £1.4bn to dealers in the leisure and commercial sectors across the UK since 2017
- The business’ loan book has increased to £194m as at 20 September 2021
- Over 150 new dealer and 10 new manufacturer partners have been onboarded during 2021
- 7200 savings accounts have been opened by customers, raising over £280m in retail deposits (£120m of retail deposits have been raised during August and September this year to support expected loan book growth)
- Successfully launched full online in-life account management for retail depositors with a feefo customer satisfaction of 4.5 since this launch
- In February 2021, DF Capital conducted a £40m fundraise to support the next phase of growth
- A move to a larger HQ in Manchester in May 2021 to accommodate future growth plans
Carl D’Ammassa, DF Capital’s CEO commented: “It’s been an exciting and transformational year. We’ve made incredible strides in unlocking our potential as a regulated bank, we’ve grown significantly and seen real momentum in both new lending and retail saving. These two services go hand in hand – the deposits made by savers fund DF Capital’s commercial lending activities and support the growth of small and medium sized businesses in the UK. It’s an absolute pleasure leading a business like DF Capital – and I am very proud of everything we do as a company and everyone that works so hard here. Together we have navigated the challenges of the last 18 months, done our very best for our customers and created something very special. I would like to thank everyone who has contributed to the success of the last year – customers, partners and colleagues alike – and feel very positive about DF Capital’s growth potential as we look towards 2022 and beyond.”
