LexinFintech Reports Growth Amidst Global Expansion

Lexinfintech Holdings (LX) has released an update.

LexinFintech Holdings Ltd., a prominent fintech service provider in China, reported a 12% sequential growth in net profit for Q2 2024 despite a 12% drop in loan origination volume. The company experienced a strong year-over-year operating revenue increase of 19.1%, attributed to improved risk performance, lower funding costs, and a boost from its overseas expansion. Lexin remains optimistic about future growth and has announced a dividend payout representing 20% of its net income for the first half of 2024.

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