DF Capital hits £1bn lending and £145m savings deposit milestones – supporting SMEs across the UK
DF Capital, the newly authorised specialist commercial lending and personal savings bank, today announced that it has now supported over £1bn of sales to UK dealers and manufacturers since it started lending activities in 2017.
In addition to this, the business has also raised over £145m of deposits since it launched its maiden, market-leading savings products in October 2020. These have included 90-day notice, 1-year, 15-month, 18-month and 2-year fixed rate accounts and led to being awarded the Feefo ‘2021 Trusted Service’ accolade.
Retail deposits now entirely support the commercial lending loan book and help contribute to the growth of small and medium sized businesses in the UK.
Carl D’Ammassa, DF Capital’s CEO, commented: “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, CCO at DF Capital said: “As a bank, we feel well-placed to support our dealers and manufacturers through this third national lockdown. We have surety of funding and a clear appetite to support the strong demand they have for our products, building on the £1bn of sales we have supported to UK SMEs since inception. 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.”