StockMarketWire.com - Specialist bank PCF Group said it had generated a 78% rise in new business in recent months.

New business generation in the five months through February rose to £98m, chief executive Scott Maybury said in speech notes for the company's AGM.

The lending portfolio had grown to over £255m, up from £172m on-year, supported by a more than doubling in retail deposits to £202m, up from £72m.

'"Following continued strong organic growth, in addition to the previously announced strategic diversifications, our previous lending portfolio target of £350m will be delivered ahead of schedule,' Maybury said.

'The UK economy faces political and economic uncertainties which have the potential to slow our progress.'

'However, by maintaining a sound credit model and a robust operational platform we can mitigate these risks.'

'We will remain alert to these challenges as we plan our growth strategy for 2020 and beyond; and we look forward to providing a further update on 5 June 2019 when we will announce our half-year accounts for the six-month period ending 31 March 2019.'






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