On March 17, 2025, FinVolution Group (FINV, Financial), a leading fintech platform in China, Indonesia, and the Philippines, announced its unaudited financial results for the fourth quarter and fiscal year ending December 31, 2024. The company reported a 6.1% year-over-year increase in total transaction volume, reaching RMB206.2 billion, and a 27.8% rise in international transaction volume, surpassing RMB10.1 billion. International revenues grew by 18.5% year-over-year, accounting for 19.4% of total net revenues.
Positive Highlights
- Total transaction volume increased by 6.1% year-over-year to RMB206.2 billion.
- International transaction volume rose by 27.8% year-over-year, exceeding RMB10.1 billion.
- International revenues grew by 18.5% year-over-year, representing 19.4% of total net revenues.
- Net profit for the fourth quarter was RMB680.8 million, up from RMB528.8 million in the same period of 2023.
- Non-GAAP adjusted operating income for the fourth quarter was RMB822.0 million, compared to RMB547.0 million in 2023.
Negative Highlights
- Post-facilitation service fees decreased due to deferred transaction fees in the China market.
- Net interest income declined due to lower average outstanding loan balances in international markets.
- Other income decreased mainly due to reduced government subsidies.
Financial Analyst Perspective
FinVolution Group's financial results for 2024 demonstrate robust growth, particularly in international markets. The company's strategic focus on international expansion is yielding positive results, as evidenced by the significant increase in international transaction volumes and revenues. The growth in net profit and non-GAAP adjusted operating income indicates strong operational efficiency and effective cost management. However, the decline in post-facilitation service fees and net interest income highlights areas for potential improvement.
Market Research Analyst Perspective
FinVolution Group's performance in 2024 underscores its successful execution of the "Local Excellence, Global Outlook" strategy. The company's ability to expand its footprint in international markets, particularly in Indonesia and the Philippines, is a testament to its adaptability and market understanding. The increase in registered users and borrowers across all markets suggests a growing demand for FinVolution's fintech solutions. As the company continues to diversify its revenue streams, it is well-positioned to capitalize on emerging opportunities in the fintech sector.
Frequently Asked Questions (FAQ)
Q: What was the total transaction volume for FinVolution Group in 2024?
A: The total transaction volume for 2024 was RMB206.2 billion, a 6.1% increase year-over-year.
Q: How much did international transaction volume grow in 2024?
A: International transaction volume grew by 27.8% year-over-year, exceeding RMB10.1 billion.
Q: What percentage of total net revenues did international revenues represent in 2024?
A: International revenues accounted for 19.4% of total net revenues in 2024.
Q: What was the net profit for the fourth quarter of 2024?
A: The net profit for the fourth quarter of 2024 was RMB680.8 million.
Q: How did FinVolution Group's non-GAAP adjusted operating income perform in the fourth quarter of 2024?
A: Non-GAAP adjusted operating income for the fourth quarter of 2024 was RMB822.0 million, up from RMB547.0 million in the same period of 2023.
Read the original press release here.
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