3 Jul 2017 07:00
3 July 2017
PCF Group plc
("PCF", the "Company" or the "Group")
Change of Company Name
Change of Website Address
PCF, the AIM-quoted specialist bank announces that, with immediate effect, the name of the Company has been changed to PCF Group plc. The stock market ticker symbol remains PCF and the Company's ISIN is also unchanged.
The Company's website has also changed with immediate effect to www.pcf.bank.
The purpose of this change is to better align and identify the parent company with its 100% owned subsidiary PCF Bank Limited. PCF Bank is the trading style of the recently authorised specialist bank which is expected to commence savings operations later this summer.
Further details regarding PCF Bank, its operations, strategy and outlook are contained in the recent Interim Results which are available on the Company's website.
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For further information, please contact:
PCF Group Scott Maybury, Chief Executive Officer Robert Murray, Managing Director David Bull, Finance Director
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| Tel: +44 (0) 20 7222 2426 |
Tavistock Communications Jos Simson / Niall Walsh
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| Tel: +44 (0) 20 7920 3150 |
Panmure Gordon (UK) Limited Atholl Tweedie / Adam James - Corporate Finance Charles Leigh-Pemberton - Corporate Broking
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| Tel: +44 (0) 20 7886 2500 |
Stockdale Securities Robert Finlay / Richard Johnson - Corporate Finance Henry Willcocks - Corporate Broking
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| Tel: +44 (0) 20 7601 6100 |
About PCF Group plc (www.pcf.bank)
Established in 1994, PCF Group plc is the AIM-quoted parent of the specialist bank, PCF Bank Limited. With the advent of the Bank the Group now has the scale to increase its lending portfolio size significantly, with target portfolio sizes of £350m in 2020 and £750m in 2022. The Group will retain its focus on portfolio quality, and will now have the capacity to lend to increasingly prime segments of the finance market.
PCF Bank will offer retail savings products for individuals and will then deploy those funds through its two lending divisions:
• Consumer Finance which provides finance for motor vehicles to consumers; and
• Business Finance which provides finance for vehicles, plant and equipment to SMEs.
The Group has a track record of strong financial performance and an efficient and scalable business model, with significant room to grow. Utilising its technologically advanced platform, PCF will provide both depositors and borrowers with a high level of service and a straightforward, simple range of products tailored to suit their needs.