Lexinfintech Holdings (LX) has released an update.
LexinFintech Holdings Ltd. has reported its Q1 2024 financial results with a focus on risk management and asset quality amid a challenging macroeconomic climate. The company observed a decrease in total loan origination by 4.8% year-over-year but achieved a 13.5% growth in outstanding loan balance and an 8.7% increase in total operating revenue. Despite a drop in net profit due to a lower loan origination volume and higher credit provisioning, LexinFintech highlighted its resilient profitability, including a record low funding cost and improved expense structure.
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