Distribution Finance Cap. Hldgs PLC Progressive publishes new research

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Distribution Finance Cap. Hldgs PLC

18 March 2021

 
Positioned for efficient growth 
 DF Capital (DFC) is a specialist SME (Small and Medium sized Enterprise) lender and personal 
 savings bank operating in the UK. It secured permission to commence deposit taking at the 
 end of September 2020 which has allowed it to successfully replace more costly wholesale funding 
 with retail deposits. Having navigated the impact of COVID-19 with aplomb so far, the Group's 
 recent capital raise doubled its lending capacity and we expect it to grow its loan book at 
 pace. With an efficient business model, DFC is initially concentrating on its inventory finance 
 product to secure run-rate profitability during Q4 2021, but holds the promise of supporting 
 a poorly served market with the addition of new, longer term loan products in adjacent segments. 
 Our scenario analysis suggests that one additional product could add at least 12% to our FY 
 2023E earnings estimate. 
 

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March 18, 2021 03:27 ET (07:27 GMT)