Lufax Holding (Lufax Holding) Credit Losses Provision : $1,731 Mil (As of Mar. 2024)

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What is Lufax Holding Credit Losses Provision?

Lufax Holding's credit losses provision for the three months ended in Mar. 2024 was $397 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $1,731 Mil.

Lufax Holding's quarterly credit losses provision increased from Sep. 2023 ($411 Mil) to Dec. 2023 ($503 Mil) but then declined from Dec. 2023 ($503 Mil) to Mar. 2024 ($397 Mil).

Lufax Holding's annual credit losses provision increased from Dec. 2021 ($1,000 Mil) to Dec. 2022 ($2,291 Mil) but then declined from Dec. 2022 ($2,291 Mil) to Dec. 2023 ($1,782 Mil).

Lufax Holding Credit Losses Provision Historical Data

The historical data trend for Lufax Holding's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Lufax Holding Credit Losses Provision Chart

Lufax Holding Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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265.59

461.36

1,000.24

2,291.45

1,782.17

Lufax Holding Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															454.48	418.59	411.23	503.41	397.35

Lufax Holding Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,731 Mil.

Lufax Holding (Lufax Holding) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Lufax Holding Ltd (NYSE:LU) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

06623:Hong Kong 0VU1:Germany

Address

Jinxiu East Road, Lane 2777, Pudong New District, Shanghai, CHN

Website

https://www.lu.com

Lufax Holding Ltd is a technology-empowered personal financial services platform in China. The company address the large unmet demand for personal lending among small business owners as well as salaried workers in China and provides tailor-made wealth management solutions to China's middle class and affluent population. Its platform has two hubs namely Retail Credit Facilitation Hub and Wealth Management Hub.