(Alliance News) - Distribution Finance Capital Holdings PLC on Tuesday said its loan book continued to grow into the third quarter of 2023.
Distribution Finance Capital is a specialist bank providing working capital solutions to dealers and manufacturers across the UK.
"The momentum seen throughout the year has continued over the summer months, with the group's loan book exceeding seasonal expectations," Distribution Finance Capital said.
At September 30, the company's loan book reached almost GP537 million, up about 22% since the year-end, achieving nine consecutive quarters of loan book growth.
New loan origination rose to GBP284 million from GBP247 million a year ago.
Chief Executive Carl D'Ammassa commented: "Our loan book growth has continued at pace through the quarter, despite expected seasonality. As we now head into the re-stocking season, through the autumn and winter, we are pleased with the continued momentum in new loan origination. Accordingly, we expect the group to continue to perform in line with the board's expectations."
Its shares were down 3.5% to 28.00 pence each in London on Tuesday morning.
By Sophie Rose, Alliance News reporter
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Distrib. Fin. (DFCH)