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PCF Group Holdings Limited: Change of name and directorate
Hamilton, Bermuda—January 22, 2018- In a filing with the Bermuda Stock Exchange PCF Group Holdings Limited(“PCF”, the “Bank” or the “Company”) announced a change of name and directorate. The full filing stated:
PCF Group Holdings Limited, announces a change in name to PCF Bank Limited.
The change in name reflects a change in status to a licenced bank entity as approved by the UK’s Prudential Regulatory Authority and Financial Conduct Authority.
The Bank commenced banking operations in July 2017
PCF Bank also advises of the appointment of Mr Tim Franklin, Mr David Morgan, Mr Mark Brown, Ms Christine Higgins and Mr David Titmuss as directors of the Company. These directors also serve as directors of the UK listed parent PCF Group plc.
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About PCF Bank Limited (www.pcf.bank)
PCF Bank is a wholly owned subsidiary of AIM-quoted company, PCF Group plc. With the advent of a specialist banking subsidiary, the UK group now has the capability to increase its lending portfolio significantly, with target portfolio sizes of £350 million in 2020 and £750 million in 2022. The group will retain its focus on portfolio quality and has the capability to lend increasingly to prime segments of its existing finance markets. The group will also seek to diversify its lending products and asset classes through acquisition.
PCF Bank currently offers retail savings products for individuals and then deploys those funds through its two lending divisions:
• Consumer Finance which provides finance for motor vehicles to consumers; and
• Business Finance which provides finance for vehicles, plant and equipment to SMEs.
The group has a track record of strong financial performance and an efficient and scalable business model, with significant room to grow. Utilising its technologically advanced platform, the Bank provides both depositors and borrowers with a high level of service and a straightforward, simple range of products tailored to suit their needs.
For media enquiries please contact media@pcf.bank