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Published on: January 18, 2022

Trading update – 2021 a transformational year

DFCH has published a trading update ahead of its December 2021 results publication in April. The update confirms that the operating model is proving highly effective. DFCH has had a record year for loan origination (£690m) and the 2021 loan book has more than doubled to around £250m, fully funded by retail deposits that stood at £295m at year-end 2021. Strong cost management and low arrears underpin our reduced pre-tax loss estimate of £4.1m. DFCH commented that whilst Covid-related supply chain issues are easing, the Board remains realistic about near-term loan book growth. We have therefore reduced 2022 estimates based on more moderated loan book growth which reduces average loan balances and pretax estimates. The Board continues to target full-year profitability for 2022.

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