We've been smashing records, says bank boss

CHIEF SAYS CITY HAS HELPED DRIVE GROWTH AS FIRM PREPARES TO MOVE TO NEW HOME

- By ALISTAIR HOUGHTON

THE CEO of Manchester-based specialist bank DF Capital has praised the city as a great place for finance as he prepares to move into one of its landmark buildings.

Distribution Finance (DF) Capital specialises in providing working capital to dealers and manufacturers across the UK. It secured its banking licence in 2020 - a tough year to start - but has seen consistent growth. Later this year it will move into two floors in the landmark Express Building in Ancoats.

In its interim results last week, DF Capital announced record new lending - up 17% to £828m - and reported half-year profit before tax of £9m, up 20% on 2024. And it added: "We expect full-year profit to materially exceed current market expectations with an improvement in market expectations for FY26 also anticipated".

Its CEO Carl D'Ammassa was in buoyant mood when he spoke to BusinessLive after the results. Asked for his highlight of the year, he said: "We've been smashing records left, right and centre"