CNH announced Financial Services’ revenues totaled $386 million in Q3/16, a 1.0% decrease compared to $390 million in Q3/15 (down 2.9% on a constant currency basis), due to a lower average portfolio and reduced interest spreads, partially offset by the positive impact of currency translation.

CNH’s Q3/16 retail loan originations (including unconsolidated joint ventures) were $2.2 billion, flat compared to Q3/15. The managed portfolio (including unconsolidated joint ventures) of $24.8 billion as of September 30, 2016 (of which retail was 65% and wholesale 35%) was up $0.3 billion compared to September 30, 2015 (down $0.2 billion on a constant currency basis).

Net income was $77 million for Q3/16, a decrease of $17 million compared to Q3/15, primarily due to the lower average portfolio and the reduction in interest spreads.