REG - Distribution Finance - Authorisation to conduct consumer lending

Distribution Finance Capital HoldingsAnnouncement

14/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250214:nRSN0809Xa&default-theme=true

RNS Number : 0809X  Distribution Finance Cap. Hldgs PLC  14 February 2025

14 February 2025

 

Distribution Finance Capital Holdings plc

("DF Capital" or the "Company" together with its subsidiaries the "Group")

 

Receipt of authorisation to conduct consumer lending from the Financial
Conduct Authority

Unlocking access to significant market opportunity that underpins medium term
growth ambitions

 

Distribution Finance Capital Holdings plc, a specialist bank providing working
capital solutions to dealers and manufacturers across the UK, is pleased to
announce that it has received authorisation from the Financial Conduct
Authority to conduct consumer lending.

Following its application to the Financial Conduct Authority in the summer of
2024 and having responded to the FCA's due diligence requests, the Group is
pleased that its subsidiary, DF Capital Retail Finance Limited, is now
authorised to conduct consumer asset finance. This enables the Group to
provide finance to the customers, at inception, of its leisure dealers as well
as directly to businesses wanting to fund the purchase of other products
across its commercial sectors. Having demonstrated to the FCA that it can meet
the expected standards for consumer lending and in light of recent enquiries
into motor finance and commission disclosure, the Group is confident that it
can scale this new product in line with prevailing legal, regulatory and
customer expectations.

As previously announced, the Group remains on track to launch this asset
finance/hire purchase capability during H1 2025, giving it access, through its
existing dealer customers initially, to adjacent markets several times larger
than the Group's existing core lending product and positioning the Group
firmly as a multi-product lender in its chosen markets.

Carl D'Ammassa, Chief Executive, commented: "Today represents a significant
step forward in our growth strategy. Becoming a multi-product lender has been
a key element of our medium-term growth plan and strategic ambition for some
time. Now having the required permissions from the FCA to launch a consumer
asset finance product unlocks sizeable opportunity for the Group and one that
is in significant demand from our dealer and manufacturer customers."

 

For further information contact:

 Distribution Finance Capital Holdings plc
 Carl D'Ammassa - Chief Executive Officer                                  +44 (0) 161 413 3391
 Kam Bansil - Head of Investor Relations                                   +44 (0) 7779 229508
 http://www.dfcapital-investors.com (http://www.dfcapital-investors.com/)

 Panmure Liberum Limited (Nomad and Broker)                                +44 (0) 203 100 2000
 Chris Clarke
 William King

 Alma Strategic Communications                                             +44 (0) 203 405 0235
 Josh Royston
 Hilary Buchanan
 Kieran Breheny

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCPKNBDOBKDDBD