|
Distribution Finance Capital Holdings PLC on Wednesday said that the momentum it saw last year has continued into the first quarter of 2026, leading to record new loans and deposits. Shares in Distribution Finance were up 8.1% to 60.00 pence each on Wednesday morning in London. The Manchester, England-based provider of financing solutions for dealers and manufacturers in the UK said that new loan origination reached £469 million in the first three months of the year, up about 23% from the first quarter of 2025 when it was £382 million. The group’s loan book was also up 26% year-on-year, closing at approximately £895 million on March 31 from £713 million 12 months ago. Retail deposits exceeded the £1 billion mark for the first time since being authorised as a bank in 2020, Distribution Finance said, without providing an exact figure. Arrears and defaults decreased, being 39 in total and representing aggregate balances just above £5.0 million, or 0.6% of the group’s total loan book, in the first quarter of 2026. The ratio was 0.9% in the first quarter of last year. So far, the company also did not observe systemic or supply chain impact across its manufacturer, dealer, and distributor customers due to the current macroeconomic and geopolitical landscape, despite the lingering uncertainty. Chief Executive Officer Carl D’Ammassa said: ‘It is pleasing to report strong ongoing momentum in lending since the start of the year, demonstrating continued progress against our 2028 and 2030 targets. Whilst the macro-economic and geo-political environment remains uncertain, we are well positioned to navigate this, providing appropriate support - where needed - to our diversified customer base’. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
