viewPCF Group Plc

PCF has balance sheet strength and experience in its locker


  • Bank specialising in motor finance and loans for business
  • Profits climbed 54% in 2019
  • Lending portfolio over £395mln at the end of February

Quick facts: PCF Group Plc

Price: 19.2 GBX

Market: AIM
Market Cap: £48.05 m


What it does:

PCF Group Plc (LON:PCF), which became a fully operational bank in July 2017, specialises in motor finance and loans for businesses.

It lends to consumers and small and medium-sized companies wanting to buy cars, commercial vehicles, engineering equipment, motorhomes and horse boxes.

The bank recently extended its reach to the broadcast and media industry by agreeing to buy Azule Limited for up to £5.6mln.

How it's doing

The specialist business bank said it entered the current coronavirus crisis in a strong financial position with a capital ratio of 17% at end-March and headroom on its Tier 2 capital facility.

In a trading update, the group said that, up until February, business was strong, but the impact of the coronavirus lockdown has since seen new loans issued fall 26% below target in March and by 65% in April.

Broadcast, entertainment and the transport sectors have seen the sharpest decline with around a quarter of the loanees now seeking some forbearance, it added.

PCF said, however, that its business continuity plans have proved resilient and it is still supporting SMEs, while it has £75mln of unearned future income on its balance sheet to come through.

The company noted that its loan book has grown by 45% to over £400mln as at March 31, 2020, up from £276mln at the same stage in 2019, supported by retail deposits of £340mln (2019: £204mln).


Inflexion points

  • Easing of coronavirus lockdown
  • Loan demand recovers
  • Economic backdrop improves back to pre-virus levels

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PCF Group PLC: Proactive One2One Virtual Event

PCF Group Plc's (LON:PCF) Scott Maybury pitches the company to investors at the Proactive One2One Virtual Event. PCF Bank was established in 1994 to bring two qualities into vehicle and plant & equipment financing: simplicity and customer focus.

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