Northpoint Commercial Finance exceeded $1 billion in receivables in 2017, following its acquisition by LBC Capital — a subsidiary of Laurentian Bank of Canada — in August 2017.
Northpoint grew its receivables more than 30% year over year, which the company attributes to “offering competitive rates, providing superior customer service, and steadily growing since [launch],” a Northpoint spokesman told Powersports Finance.
The acquisition is expected to drive natural growth to Laurentian Bank’s earnings per share in the first full year of operation and by approximately 4% in 2019, the bank reported in an investor presentation last May when the acquisition was first announced.
