Hitachi Capital America Corp. reported it has closed out another successful fiscal year, with total assets surpassing $3 billion and $4.6 billion in total funded volume, a double-digit percentage increase over last year.
One of the company’s biggest successes comes from its Canadian division, Hitachi Capital Canada (HCC). Led by newly appointed President François Nantel, HCC witnessed a robust expansion with total volume and assets increasing by more than 50 percent. New business volume was up in all three sales segments – vendors, brokers and direct sales – and the HCC team worked diligently to keep delinquencies under control, all while nearly doubling the division’s lending portfolio.
“We closed out a very busy year with results we’re proud of,” said Ryan Collison, President and Chief Operating Officer. “A few years ago, we made a decision to diversify our business both in the US 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 2017 also included another record-breaking year for Hitachi Capital America’s (HCA) Vendor Services division, which saw a 27 percent increase in total assets to $417 million. Additionally, Vendor Services welcomed 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 an enhanced offering of client solutions, including 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.
This past fiscal year was also one of maintaining and building a solid foundation for HCA’s Transportation Finance division. The team welcomed two industry veterans – Thomas Ball and Dave Herring – with plans to increase the company’s market share in the capital markets and heavy duty. Meanwhile, the leader of HCA’s medium duty truck finance group, Russ Yanaga, led the team to a 22 percent increase over fiscal year 2016.
“In 2017, our team produced strong growth and enhanced profitability, while also laying the foundation to support our company’s continued expansion in 2018,” said Collison. “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.”