PPDAI Group Inc. Announces Updates on Fourth Quarter 2018 Institutional Funding and Loan Origination Volume Growth
PPDAI GROUP INC (PPDF)
Last ppdai group inc earnings: 5/15 05:30 am
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Source: PR Newswire
SHANGHAI, Jan. 29, 2019 /PRNewswire/ -- PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced updates on its growth in institutional funding and loan origination volume for the fourth quarter of 2018.The Company's loan origination volume facilitated with institutional funding increased significantly by 71.2% to RMB3.6 billion in the fourth quarter of 2018 from RMB2.1 billion in the third quarter of 2018. Benefiting from the rapid growth in institutional funding, the Company's total loan origination volume in the fourth quarter of 2018 increased by 19.2% to RMB17.6 billion from RMB14.8 billion in the third quarter of 2018. In the fourth quarter of 2018, the proportion of loans facilitated with institution funds to total loan origination volume was 20.4%, compared to 14.3% in the third quarter of 2018. As a result, for the full year 2018, the Company achieved total loan origination volume of approx
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