SHANGHAI, March 12, 2023 /PRNewswire/ — Lufax Holding Ltd (“Lufax” or the “Company”) LU, a leading financial services enabler for small business owners in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2022.
Fourth Quarter 2022 Financial Highlights
- Total income decreased by 22.2% to RMB12,318 million (US$1,786 million) in the fourth quarter of 2022 from RMB15,831 million in the same period of 2021.
- Net loss was RMB806 million (US$117 million) in the fourth quarter of 2022, compared to net profit of RMB2,896 million in the same period of 2021.
|
(In millions except percentages, unaudited) |
Three Months Ended |
Twelve Months Ended |
|||||||||||
|
2021 |
2022 |
YoY |
2021 |
2022 |
YoY |
||||||||
|
RMB |
RMB |
USD |
RMB |
RMB |
USD |
||||||||
|
Total income |
15,831 |
12,318 |
1,786 |
(22.2 %) |
61,835 |
58,116 |
8,426 |
(6.0 %) |
|||||
|
Total expenses |
(11,492) |
(12,922) |
(1,874) |
12.4 % |
(38,435) |
(45,102) |
(6,539) |
17.3 % |
|||||
|
Total expenses excluding credit and asset impairment losses, |
(8,302) |
(6,574) |
(953) |
(20.8 %) |
(30,194) |
(26,889) |
(3,899) |
(10.9 %) |
|||||
|
Credit and asset impairment losses |
(3,222) |
(6,266) |
(908) |
94.5 % |
(7,745) |
(16,978) |
(2,462) |
119.2 % |
|||||
|
Financial costs and other gains/(losses) – net |
32 |
(82) |
(12) |
(356.3 %) |
(496) |
(1,236) |
(179) |
149.2 % |
|||||
|
Net profit/(loss) |
2,896 |
(806) |
(117) |
(127.8 %) |
16,709 |
8,775 |
1,272 |
(47.5 %) |
|||||
Fourth Quarter 2022 Operational Highlights
- Outstanding balance of loans enabled decreased by 12.8% to RMB576.5 billion as of December 31, 2022 from RMB661.0 billion as of December 31, 2021.
- Cumulative number of borrowers increased by 12.9% to approximately 19.0 million as of December 31, 2022 from approximately 16.8 million as of December 31, 2021.
- New loans enabled decreased by 48.7% to RMB77.8 billion in the fourth quarter of 2022 from RMB151.6 billion in the same period of 2021.
- During the fourth quarter of 2022, excluding the consumer finance subsidiary, the Company bore risk on 22.2% of its new…
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