Distribution Finance Capital Holdings PLC - UK specialist commercial lending and personal savings bank - Subsidiary DF Capital Bank Ltd raises over GBP50 million in retail deposits since launching savings products in October. Deposits will allow company to replace more expensive wholesale debt, grow loan book and drive net interest margin towards to target of 6%.
"We are delighted by the response we have received from depositors looking for a safe and secure home for their savings, whilst also earning market leading rates of interest. The re-assurance of the Financial Services Compensation Scheme's protection and a quick online application process is proving attractive," said Chief Executive Carl D'Ammassa.
Current stock price: 47.00 pence
Year-to-date change: down 48%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Distrib. Fin. (DFCH)