DF Capital profits rise 49% as lending expands in H1 2026

DF Capital has reported a 49% increase in pre-tax profit for the first half of 2026 as record loan originations and growth across its inventory, structured and asset finance activities lifted its lending book.

The specialist bank recorded profit before tax of £13.4 million for H1 2026, compared with £9.0 million a year earlier, while gross revenues increased 26% from £43.7 million to £55.0 million.

New loan originations reached a record £1.1 billion during the period, up 31% year on year, helping drive a 27% increase in DF Capital’s loan book to £932 million.

The bank said growth was supported by continued momentum in its core inventory finance business alongside expansion in structured finance and its newer asset finance proposition.

Asset finance gains traction

DF Capital’s DFRNT asset finance business continued to grow during the first half, with balances reaching £40 million compared with £6 million in H1 2025.

Growth has accelerated since the end of the reporting period, with DFRNT balances reaching approximately £65 million by the end of August.

Structured finance has also expanded significantly, with balances increasing to approximately £174 million from £88 million a year earlier.

DF Capital said the expansion of these products was helping broaden its addressable market and diversify its lending and revenue streams.

Carl D’Ammassa, chief executive officer of DF Capital, said: “I am delighted with the progress we have made in the first half of 2026. These results show the strength of our business as we build a larger and more diversified lending franchise.

“Our recently launched asset finance proposition, DFRNT, is gaining significant traction, structured finance is growing well, and the investments we have made in our platforms and customer journeys allow us to serve customers more quickly and effectively.”

DF Capital targets £1.5bn-plus loan book

Despite continued uncertainty in the macroeconomic and geopolitical environment, DF Capital said it has the capital and liquidity available to pursue further growth while maintaining a disciplined approach to lending.

The bank remains on track towards its longer-term financial ambitions, including growing its loan book beyond £1.5 billion by 2030.

It is also targeting a cost-income ratio of between 45% and 48%, an equity return of around 20%, and annual growth in tangible net assets of between 10% and 15%.

D’Ammassa added: “Whilst the macro-economic and geo-political environment presents uncertainty, we feel well placed to navigate these over the longer term.

“We have all the ingredients in place to support our ambitions, with real excitement across the business about the significant opportunity ahead as we look to deliver on our 2028 and 2030 financial targets.”