- Specialist bank PCF said its lending portfolio had grown 55% in the first five months of its financial year.

Lending volumes for the five months through February had risen to £395m, up from £255m on-year.

'I am pleased to report that trading in the first five months of the current financial year has been strong and in line with management's expectations,' chief executive Scott Maybury said in AGM speech notes.

New business origination had grown 30% to £127m, with over 79% in prime credit grades.

Maybury said world economy faced increased economic concerns over Covid-19. He also said uncertainty remained over the UK's transition to an independent trading nation post Brexit.

'It is therefore important we maintain our cautious risk appetite and remain proactive towards these challenges,' he said.

Story provided by