15 July 2024
Distribution Finance Capital Holdings plc
("DF Capital" or the "Company" together with its subsidiaries the "Group")
British Business Bank ENABLE Guarantee Extended
Distribution Finance Capital Holdings plc, a specialist bank providing working capital solutions to dealers and manufacturers across the UK, is pleased to announce that it has signed an agreement with British Business Bank to increase its ENABLE Guarantee from £250m to the fullest extent of £350m.
The increased ENABLE Guarantee further improves the Group's capital efficiency and, when considering its recent profit upgrade, current capital and tier 2 capital, will support the Group's loan book growth to c£850m, an increase from the previously announced target of c£800m.
At a c£850m loan book, profits generated are expected to continue to support further annualised organic loan book growth in excess of 10% without the need for additional dilutive tier 1 equity capital.
Carl D'Ammassa, Chief Executive, commented: "British Business Bank's continued support by upsizing the ENABLE Guarantee helps unlock our near-term growth ambitions and our aim to assist more SME dealers and manufacturers as we look to further scale the bank and become a multi-product lender".
For further information contact:
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Distribution Finance Capital Holdings plc |
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Carl D'Ammassa - Chief Executive Officer |
+44 (0) 161 413 3391 |
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Kam Bansil - Head of Investor Relations |
+44 (0) 7779 229508 |
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Panmure Liberum Limited (Nomad and Broker) |
+44 (0) 203 100 2000 |
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Chris Clarke William King Anake Singh |
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