LexinFintech Holdings Ltd. reports strong financials for Q4 2024, predicts steady growth in 2025
From GlobeNewswire: 2025-03-18 18:00:00
LexinFintech Holdings Ltd. announced its unaudited financial results for the quarter ending December 31, 2024, with a net income of RMB363 million, a 17% increase from the previous quarter. Total loan origination reached RMB52 billion, and outstanding loan balance was RMB110 billion. The company saw improvement in asset quality and profitability, with a sustainable profit growth trajectory expected for 2025. The board approved a dividend of US$0.11 per ADS, representing 20% of net income from the second half of 2024, with a cash dividend payout ratio raised to 25%. Additionally, the company predicts steady growth in 2025.
Operational highlights for the fourth quarter of 2024 include a total of 228 million registered users, 45.1 million users with credit lines, and 33.8 million cumulative borrowers with successful drawdown. Total loan originations reached RMB52.0 billion, and outstanding loan balance was RMB110 billion. The company focused on enhancing asset quality, risk management, and operational refinements, contributing to sustainable profit growth. Additionally, the company served over 100 business customers with tech-empowerment services and saw a decline in the first payment default rate for new loan originations.
Financially, the company reported total operating revenue of RMB3,659 million for the fourth quarter of 2024, with a net income of RMB363 million. Credit facilitation service income was RMB2,712 million, tech-empowerment service income was RMB602 million, and installment e-commerce platform service income was RMB345 million. Adjusted net income attributable to ordinary shareholders of the company increased by 37.7% year-over-year. The company is focused on sustainable growth, asset quality enhancement, and profitability, with expectations for flat to single-digit growth in total loan origination in 2025.
Read more at GlobeNewswire: LexinFintech Holdings Ltd. Reports Fourth Quarter and Full