DF Capital reports £828m new lending in H1 2025

DF Capital, a specialist provider of working capital solutions to dealers and manufacturers across the UK, has announced a record financial performance for the six months ended 30 June 2025, achieving strong double-digit growth, record lending volumes, and the successful launch of a new asset finance product.

The bank delivered a profit before tax of £9.0 million, up 20% on the same period last year (H1 2024: £7.5 million). Revenue climbed to £43.3 million from £37.9 million a year earlier, reflecting continued momentum across its core markets and expansion into adjacent sectors.

DF Capital achieved record new lending of £828 million during the period, an increase of 17% on H1 2024 (£710 million). Its loan book reached £728 million at the end of June, up 21% year-on-year, supported by disciplined lending and high-quality origination.

The bank now partners with 97 manufacturers and 1,491 dealers across the leisure, marine, specialist automotive, industrial, and transport sectors, with total dealer loan facilities reaching £1.4 billion.

Retail deposits also grew strongly, rising to £688 million across around 15,500 accounts, up from £579 million in H1 2024, demonstrating growing customer trust and engagement.

During the period, DF Capital gained regulatory approval for its new asset finance proposition and has already onboarded more than 75 dealers, with the first loans made. The product enables dealers’ customers to finance purchases directly, expanding DF Capital’s offering beyond inventory finance and opening up an estimated £10 billion addressable market within its existing dealer network. Initially focusing on the leisure sector, the bank plans to roll the product out more broadly over time.

Looking ahead, DF Capital expects its loan book to reach between £750 million and £800 million by the end of 2025, in line with previous guidance. With current funding and support from government and banking facilities, the bank has the capacity to lend around £950 million and a clear pathway to expanding its loan book to £1.3 billion without requiring additional shareholder capital.

Carl D’Ammassa, Chief Executive Officer at DF Capital, said: “The Group has made great progress in achieving our strategic ambitions and enjoyed another period of growth which underpins the significant increase in overall profitability.

“We continue to scale the bank efficiently and the launch of our asset finance product will significantly expand our addressable market opportunity whilst also deepening our relationships with manufacturer and dealer customers.

“Given the progress during the period, we expect full-year results to be materially ahead of current market expectations, supporting the pace of our journey to deliver on the medium-term targets we laid out at the start of the year, including ending FY28 with a loan book of around £1.3 billion and a mid-teens return on equity.”