By Elena Vardon
Distribution Finance Capital Holdings said its loan book exceeded seasonal expectations in the third quarter of 2023 and that the group expects to continue to perform in line with the board’s expectations.
The London-listed lender–which provides working capital to dealers and manufacturers across the U.K.–said Tuesday that its loan book had reached almost 537 million pounds ($649 million) as at Sept. 30, 22% higher than nine months prior.
The company said new loan origination for the three-month period was GBP284 million compared with GBP247 million in the comparable quarter the previous year. At the end of the first nine months of the year, it was around GBP891 million, 30% higher than a year earlier.
“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,” Chief Executive Carl D’Ammassa said.
Write to Elena Vardon at [email protected]
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