PPDAI Group Inc. Reports Further Progress in Expanding Funding from Institutional Partners in the Third Quarter of 2019
PPDAI GROUP INC (PPDF)
Last ppdai group inc earnings: 5/15 05:30 am
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Source: PR Newswire
SHANGHAI, Oct. 9, 2019 /PRNewswire/ -- PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced further progress in expanding its funding from institutional partners. The Company has continued to make solid progress in expanding funding from institutional partners. In the third quarter of 2019, the proportion of loans facilitated by institutional funding partners to total loan origination volume increased to 75.1%, from 44.8% in the second quarter of 2019, and 14.3% in the third quarter of 2018. The Company's loan origination volume facilitated by institutional funding partners increased significantly by 90.7% to RMB18.5 billion in the third quarter of 2019 from RMB9.7 billion in the second quarter of 2019.Mr. Feng Zhang, Co-Chief Executive Officer of PPDAI, commented, "Benefitting from the rapid growth in institutional funding, the Company's total loan origination volume in the third quarter of 201
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