Cosmetic op loans boost for Hitachi Capital profit

Tummy tucks and nose jobs come ahead of furnishings and holidays for people taking out personal loans, according to research by consumer finance firm Hitachi Capital.

The company lent 50 million last year to pay for procedures ranging from liposuction to laser eye surgery -- and the gap in demand between men and women is closing rapidly.

The trend is feeding into the niche lender's bottom line, with net profit rising 70 percent to 5.9 million for the half year to September.

Hitachi says the rush for cosmetic surgery has driven its healthcare division up by 30 percent in the past year. The unit now accounts for 15 percent of the company's business, with customers willing to pay the extra in interest to have cosmetic work done sooner.

A survey by the company revealed that 66 percent of patients would not have gone ahead with eye surgery had a payment plan not been available.

It also found that a third more people chose to raise a loan for cosmetic nose surgery rather than money for a holiday.

There is also a wide range of loan size, with consumers borrowing as little as 200 for Botox treatment, 6000 for a facelift or as much as 50,000 for more comprehensive work.

Cosmetic dental procedures are also high on borrowers' wish lists and Hitachi expects that business to expand rapidly with loans for procedures such as teeth whitening, implants and veneers.