LexinFintech Holdings Ltd. (NASDAQ:LX) Q4 2023 Earnings Conference Call March 20, 2024 10:00 PM ET
Company Participants
Mandy Dong - Director of Investor Relations
Jay Xiao - Chief Executive Officer
Zhanwen Qiao - Chief Risk Officer
James Zheng - Chief Financial Officer
Conference Call Participants
Alex Ye - UBS
Yada Li - CICC
Yuying Zou - CLSA
Operator
Good day, and thank you, for standing by. Welcome to LexinFintech's Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Mandy Dong, IR Director. Please go ahead.
Mandy Dong
Hello, everyone. Welcome to Lexin's fourth quarter and full-year 2023 earnings conference call. Our results were issued earlier today and can be found on our IR website. Joining me today are our CEO, Jay Xiao; CRO, [Arvin Qiao]; and CFO, James Zheng.
Before we get started, I'd like to remind you of our Safe Harbor statement in our earnings press release, which also applies to this call. During the call, we may refer to business outlook and forward-looking statements, which are based on our current plans, estimates and projections. The actual results may differ materially, and we undertake no obligation to update any forward-looking statements. Last, unless otherwise stated, all figures mentioned are in RMB.
In today's call, Jay will first provide an update on our overall performance. Arvin will discuss risk management progress. Lastly, James will cover the financial results in more detail.
I will now turn the call over to Jay. His remarks will be in Chinese and English translation will follow.
Jay Xiao
Good evening and good morning. I'm pleased to give an update regarding our performance for the fourth quarter of 2023. In the face of the current macroeconomic environment and [industry] challenges, we adopted a prudent business strategy in the fourth quarter. We adhered to our strategy of dual business growth engine driven by data and risk management, achieving steady development.
Total loan origination in Q4 reached RMB61.2 billion, a 9% year-over-year increase. Total loan origination volume for the full-year was RMB249.5 billion, a 21.9% year-over-year increase. Loan balance grew to RMB124 billion, a 24.5% year-on-year increase. Revenue was RMB3.5 billion in Q4, a 15.1% year-on-year increase. Total revenue for the full-year was RMB13.1 billion, a 32% year-on-year increase.