Element Financial Corp.'s fleet management business doubled originations in the second quarter compared to the same quarter a year ago, the company has reported.
Element reported $1.7 billion in originations during the quarter ending June 30. That compares with $820.7 million from the same quarter in 2015.
Element's fleet management unit reported total earning assets of $12.73 billion as of June 30. The company had $5.2 billion as of June 30, 2015.
Service and fee revenue was $126.7 million versus $126.7 million on a currency neutral basis for the previous three-month period ending March 31 and $44.6 million for the same period last year.
Services and fee revenue accounted for 57% of total fleet revenue versus 56% for the previous three-month period ending March 31 and 52% for the same period last year.
Read more from Element's announcement here.
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