DF Capital (Distribution Finance Capital Holdings plc), a specialist bank providing working capital for dealers and manufacturers across the UK, has reported strong financial results for the year ending 31 December 2024.
The firm recorded its third consecutive year of profit, with pre-tax earnings of £19.1 million, more than four times the 2023 outturn, aided by a £4.7 million write-back of a provision made in the previous year.
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The bank, which focuses on inventory finance and adjacent asset finance solutions, achieved a significant increase in new loan origination, rising by nearly £250 million to £1.44 billion. This growth drove a 15% expansion in DF Capital’s loan book, which reached a record £666 million by year-end.
Credit risk performance remained robust, with the number of arrears cases increasing only slightly to 33 from 30 in 2023. Retail deposits also grew by £75 million to £650 million, supported by over 15,600 savings accounts.
Tangible net asset value per share rose by 15% to 63.8p, reflecting the company’s financial strength and disciplined approach to growth. DF Capital continued to diversify its product range and end markets, reinforcing its position as a multi-product lender without requiring a dilutive capital raise.
DF Capital Chief Executive Carl D’Ammassa highlighted the firm’s progress in scaling its core inventory finance business while investing in new products and services. “2024 was another year of significant progress for the Group, marking our third consecutive year of profit growth since our authorisation in 2020. We have an exciting journey ahead as we continue to expand our offering and support our customers’ needs.”
