Hyundai Capital said Wednesday that assets of its global offices surpassed 50 trillion won ($40.9 billion) in value for the first time since it launched its first overseas branch in the US in 1989.

The Seoul-headquartered auto financier said its global branches owned 50.8 trillion won of financial assets last year, double that of the domestic market. Hyundai Capital’s global branches also posted a record pretax income of 766.3 billion won.

“The company’s standardized business models and localization strategies boosted performance in global markets,” an official from the auto financier said.

The company currently runs offices in 10 nations, including the US, China, Canada and Brazil. It recently acquired Sixt Leasing, a German auto-leasing company.

By Kim Young-won (wone0102@heraldcorp.com)