Across both projects, TriFidus strengthened Kumba’s financial resilience and strategic positioning. Our integrated approach helped the company:
-
Secure buy-in for capital structure optimisation.
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Advance its renewable energy transition with confidence.
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Enhance governance and board-level decision-making.
s role ensured:
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Risks and opportunities were fully understood.
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The financial model provided decision-ready outputs.
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Board and management confidence in execution.
“TriFidus has the whole package. Their ability to combine corporate finance knowledge, modelling expertise, and stakeholder engagement is invaluable.” — Johan Prins, Corporate Development & Strategic Projects
🔹 The Impact
Across both projects, TriFidus strengthened Kumba’s financial resilience and strategic positioning. Our integrated approach helped the company:
-
Secure buy-in for capital structure optimisation.
-
Advance its renewable energy transition with confidence.
-
Enhance governance and board-level decision-making.
The Impact
Across both projects, TriFidus strengthened Kumba’s financial resilience and strategic positioning. Our integrated approach helped the company:
-
Secure buy-in for capital structure optimisation.
-
Advance its renewable energy transition with confidence.
-
Enhance governance and board-level decision-making.
![logo-nobackground [rev].png](https://static.wixstatic.com/media/b9ad8a_b075e1435b8547e686f568b32e2c1783~mv2.png/v1/fill/w_49,h_13,al_c,q_85,usm_0.66_1.00_0.01,blur_2,enc_avif,quality_auto/logo-nobackground%20%5Brev%5D.png){kind=logo}
Case Study
DF Capital
Helping DF Capital's Journey to Banking Licence Approval
Company Overview
DF Capital, a specialist commercial lender, reached a pivotal stage in 2018 as it sought to transition into a fully regulated bank. This required a comprehensive regulatory business plan and a sophisticated financial model to support its application to the Prudential Regulation Authority (PRA), part of the Bank of England.
Our Partner at DF Capital:
Gavin Morris, CFO at DF Capital
The Challenge
To secure authorisation, DF Capital needed to demonstrate that its forecasting and financial planning capabilities were sufficiently robust to meet regulatory standards. This required:
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Re-engineering its existing financial model to meet PRA submission requirements.
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Embedding ICAAP (Internal Capital Adequacy Assessment Process) and ILAAP (Internal Liquidity Adequacy Assessment Process) stress testing.
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Developing a more granular product view across lending and deposit products.
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Formalising business planning and budgeting processes with clear governance and Board approval.
The Outcome
The enhanced model and planning framework were pivotal in supporting DF Capital’s successful PRA application. They:
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Delivered the required granularity for product-level analysis.
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Enabled robust ICAAP and ILAAP stress testing under regulatory scrutiny.
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Provided regulators with confidence in the sustainability of DF Capital’s business model.
“The financial plan TriFidus helped us to create gave us the level of detail needed on our products. It also allowed us to do the required stress testing for ICAAP and ILAAP. TriFidus’ assistance with these processes meant we could work at significant pace. By demonstrating expert financial modelling capability, TriFidus was key in supporting the development of the plan.”
Gavin Morris, CFO, DF Capital
The Impact
TriFidus’s integrated support enabled DF Capital to:
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Secure its banking licence approval and transition into a regulated bank.
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Build a strategic financial modelling framework that continues to underpin resilience and growth.
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Strengthen governance and planning processes, embedding clarity, control, and confidence across the organisation.
