distribution finance capital holdings plc on wednesday reported a swing to a pretax profit in 2022 beating its views and expects its 2023 performance to be materially ahead of views the londonlisted lenderwhich provides working capital to dealers and manufacturers across the ukmade 13 million pounds 16 million in pretax profit for the year ended dec 31 up from a pretax loss of gbp37 million in 2021 earlier this month the group had said it expected pretax profit of at least gbp10 million its loan origination reached more than gbp10 billion a 45 increase from the previous year it added that it maintained its net interest margin at 65 ahead of its 6 target despite rising funding costs with net interest income 81 higher than in 2021 at gbp204 million it expects to exceed the target again in 2023 but to revert to 6 with base rate reductions over the mediumterm its net assets for the year were gbp962 million up from gbp861 million in the first quarter of 2023 loan origination was gbp270 million up around 23 on the previous year the group said it sees a continuing trend of rising loan origination and strong net interest margin in 2023 and targets a yearend loan book in the range of gbp550 million to gbp600 million its loan book at the end of 2022 stood at gbp439 million up from gbp249 million in 2021 it added