Auto lender GM Financial revenue jumps 23 percent

(Reuters) - General Motors Financial Co Inc, the auto financing arm of General Motors Co , reported a 23 percent jump in quarterly revenue, as it benefited from the automaker's efforts to bolster its lending operations. General Motors said earlier this year that GM Financial would replace Ally Financial Inc as the exclusive lessor for Buick, GMC and Cadillac vehicles, from February and March. GM Financial, which specializes in subprime auto lending, however, said loan delinquencies in North America rose to 7.2 percent from 6.8 percent. General Motors has been building the business through acquisitions and more aggressive marketing to dealers. Operating lease originations of GM vehicles almost quadrupled to $3 billion (£2 billion) for the quarter ended March 31, GM Financial said on Thursday. Texas-based GM Financial's net profit rose 3.4 percent to $150 million. Total revenue rose to $1.4 billion from $1.1 billion. General Motors posted a smaller-than-expected quarterly profit on Thursday as weakness in South America and Russia hurt demand and the company's tax rate was higher than expected. (Reporting by Neha Dimri in Bengaluru; Editing by Sriraj Kalluvila)