Hitachi Capital Consumer Finance (HCCF), one of the UK’s leading retail PoS providers, has announced profits of £60.2m and growth in market share, illustrating resilience despite volatility in the lending landscape in FY20/21, which, together with continued investments during the period, leave the business well positioned to grow in 2021/22 as lockdown measures ease and consumer confidence returns.

In total, HCCF lent £1.7b, including over £1.1b 3200 UK high street and online retail partners. Exceptional growth via digital channels, propelled by a +34% increase in retail PoS finance merchant integrations to drive online and mail order sales conversions, lead to an increase of +87% in lending volumes via ecommerce channels.

HCCF’s personal loans business, Hitachi Personal Finance, gained market share in a supressed market with new business volumes of £648m, which cemented its position as one of the top 10 providers of personal loans in the UK.

HCCF MD Vincent Reboul (pictured) says: “Despite a turbulent year, with subdued lending demand and an unprecedented increase in customer contact during the first quarter lockdown, we continued to provide outstanding service to support our customers and retail partners. Our agile response to the pandemic, including accelerating our strategic investment in digital channels in order to adapt to the surge in demand via ecommerce channels, enabled us to continue to deliver against our strategic priorities and achieve some very impressive results.

“Cementing our position as one of the top 10 providers of personal loans in the UK, HCCF defied the sharp decline in demand for unsecured lending to continue to gain market share in a competitive sector where rates remain at historic low levels. With a strong recovery in consumer spending expected during the coming months, our business is primed for sustained growth to benefit from an enhanced multichannel proposition moving forwards.”

At a group level, Hitachi Capital (UK) has reported a profit before tax of £104m for the 2020/21 financial year.