LexinFintech posts higher Q1 loan volume and revenue
LexinFintech reported a 15.9% sequential increase in total loan volume to 57.9 billion yuan and revenue reaching 3.3 billion yuan.
The company’s diversified ecosystem businesses helped offset weakness in online consumer finance.
Asset quality and risk metrics improved during the quarter, with delinquency trends and collection rates getting better, however net income fell 5.9% sequentially to 201 million yuan.
The company’s installment e-commerce, offline inclusive finance and fintech empowerment businesses accounted for nearly half of total loan volume