Hitachi Capital Reports $4.6B in Fiscal 2017 Total Funded Volume
MAY 22, 2018 - 7:27 am
Hitachi Capital America reported $4.6 billion in total funded volume in fiscal 2017. The specialty finance company also surpassed $3 billion in total assets.
Hitachi Capital Canada (HCC) was a standout division, with growth in total volume and assets by more than 50%. New business volume also was up in all three sales segments – vendors, brokers and direct sales – while delinquencies remained under control, all while the division’s lending portfolio nearly doubled under President François Nantel.
“We closed out a very busy year with results we’re proud of,” said Ryan Collison, Hitachi Capital America president and COO. “A few years ago, we made a decision to diversify our business both in the U.S. and in Canada, all while expanding beyond transportation financing. By adding a variety of commercial financing solutions, in addition to even more options for our truck customers, we’re witnessing positive contributions from all of our diverse divisions which aid in the greater success of Hitachi Capital America.”
Fiscal year 2017 also included another record-breaking year for Hitachi Capital America’s (HCA) Vendor Services division, which experienced a 27% increase in total assets to $417 million. Additionally, Vendor Services added the Medium and Small Ticket division into its suite of services. This new division, now called Funding and Portfolio Services, has the capabilities to deliver third-party funding programs, equipment and software financing portfolio acquisitions and portfolio servicing.
Other notable highlights in the HCA Commercial Finance portfolio include a significant increase in syndicated lending, which was a key driver in the Business Finance division nearly doubling the size of its portfolio and a sharp increase in the Trade Finance division’s assets, which is nearing $1 billion in total.
In addition, HCA’s Transportation Finance division added Thomas Ball and Dave Herring during fiscal 2017, while the medium duty truck finance group had a 22% increase under Russ Yanaga’s leadership.
“In 2017, our team produced strong growth and enhanced profitability, while also laying the foundation to support our company’s continued expansion in 2018,” Collison said. “Their ongoing efforts to service every customer, every time is what really sets our team apart. We’re proud of the work we accomplish and are looking forward to implementing plans consistent with our strategy for long-term profitable growth.”
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