Asset finance giant De Lage Landen (DLL) announced a 10% increase in net profits to €402m for the full year ending 2013, and at the same time saw growth in both its global portfolio and revenue.

The increase in profit was attributed to "conscious cost control" and risk management, a reduction in impairment charges over the year, and an increase in revenues.

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The finance company, a division of Dutch bank Rabobank, reported an increase in global net income to €1.55bn, an increase of 6.2% year-on-year, aided by the opening of new offices in Turkey and India during 2013. This takes the number of countries in which DLL operates up to 36.

In addition to the main finance arm’s expansion, the Athlon Car Lease brand was also taken into Sweden, extending its coverage to 10 countries.

The development of the global business was mirrored in the growth of DLL’s portfolio, which increased 2.2% to €31.5bn.

DLL announced that it now employs over 5,400 staff across its global operations.

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Frans Overdijk, chief financial and risk officer at DLL, said: "The Executive Board is glad to see that our efforts and investment in our people continually pays off. And, despite the call for efficiency due to the dynamics in the global economy, we will remain flexible to address the needs in our global markets.

"We are very pleased with the results of 2013. By managing our costs levels while further increasing our portfolio, we achieved another year of solid, healthy growth."

In September De Lage Landen parted company with its chief executive Ronald Slaats over "a difference of opinion" on how to run the business.