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FinVolution Group Reports First Quarter 2024 Unaudited Financial Results By Investing.com

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-First Quarter China Transaction Volume reached RMB46.1 billion, up 10.3% year-over-year-
-First Quarter International Transaction Volume reached RMB2.21 billion, up 40.8% year-over-year-
-First Quarter International Revenues increased to RMB594.8 million, up 32.9% year-over-year and contributing 18.8% of total net revenues

SHANGHAI, May 15, 2024 /PRNewswire/ — FinVolution Group (NYSE:) (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform, today announced its unaudited financial results for the first quarter ended March 31, 2024.

For the Three Months Ended/As of

YoY

Change

March  31,  2023

March  31,  2024

Total Transaction Volume  (RMB in billions)[1]

43.4

48.3

11.3  %

Transaction Volume (China’s Mainland)[2]

41.8

46.1

10.3  %

Transaction Volume (International)[3]

1.57

2.21

40.8  %

Total Outstanding Loan Balance (RMB in billions)

62.3

65.3

4.8  %

Outstanding Loan Balance (China’s Mainland)[4]

61.3

64.0

4.4  %

Outstanding Loan Balance (International)[5]

0.95

1.27

33.7  %

First Quarter 2024 China Market Operational Highlights

  • Cumulative registered users[6] reached 158.7  million as of March 31, 2024, an increase of 8.3% compared with March 31, 2023.
  • Cumulative borrowers[7] reached 25.5 million as of March 31, 2024, an increase of 6.3% compared with March 31, 2023.
  • Number of unique borrowers[8] for the first quarter of 2024 was 1.8 million, a decrease of 18.2% compared with the same period of 2023.
  • Transaction volume[2] reached RMB46.1  billion for the first quarter of 2024, an increase of 10.3% compared with the same period of 2023.
  • Transaction volume facilitated for repeat individual borrowers[9] for the first quarter of 2024 was RMB39.3  billion, an increase of 5.9% compared with the same period of 2023.
  • Outstanding loan balance[4] reached RMB64.0  billion as of March 31, 2024, an increase of 4.4% compared with March 31, 2023.
  • Average loan size[10] was RMB10,121  for the first quarter of 2024, compared with RMB7,908  for the same period of 2023.
  • Average loan tenure[11] was 8.2 months for the first quarter of 2024, compared with 8.5 months for the same period of 2023.
  • 90 day+ delinquency ratio[12] was 2.45% as of March 31, 2024, compared with 1.72% as of  March 31, 2023.

First Quarter 2024 International Market Operational Highlights

  • Cumulative registered users[13] reached 26.8  million as of March 31, 2024, an increase of 49.7% compared with March 31, 2023.
  • Cumulative borrowers[14] for the international market reached 5.1 million as of March 31, 2024, an…

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