X Financial Reports Significant Growth in Loan Amounts and Active Borrowers in Q4 2024
On March 19, 2025, X Financial (XYF), a leading online personal finance company based in China, released its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. The report showed a notable increase in the total loan amount facilitated and originated and the number of active borrowers.
Financial Highlights
The total loan amount facilitated and originated in the fourth quarter of 2024 reached RMB32,297 million, marking a 14.0% quarter-over-quarter (QoQ) increase and a 23.6% year-over-year (YoY) growth compared to the same period in 2023 (RMB26,134 million).
Moreover, the number of active borrowers grew by 7.9% QoQ and 32.2% YoY, reaching 4,495,997, with 2,120,068 new borrowers joining in the last quarter of 2024. The twelve-month period ending December 31, 2024, saw a total loan amount of RMB105,557 million, a 0.6% QoQ decrease but a 16.4% YoY increase compared to the previous year.
Impact on Individuals
For individuals, the expansion of X Financial’s loan facilitation and origination capabilities may result in more options for personal borrowing in China. This could lead to increased access to credit for those in need, potentially improving their financial situations. Additionally, the growing number of active borrowers indicates a rising demand for online financial services, which may encourage more financial institutions to enter the market and offer competitive products.
Impact on the World
On a global scale, X Financial’s impressive growth signifies the growing importance and influence of the Chinese personal finance market. As China continues to develop its digital economy, the demand for online financial services is expected to increase further. This trend could lead to increased competition among financial institutions, potentially driving innovation and the development of new financial products and services.
Conclusion
X Financial’s fourth-quarter and fiscal year 2024 financial results demonstrate the growing demand for online personal finance services in China. The company’s significant growth in loan amounts and active borrowers indicates a strong market for these services, potentially leading to increased competition and innovation in the industry. Individuals in China may benefit from increased access to credit, while the global financial landscape may experience further growth and development in the digital economy.
- X Financial reports Q4 and FY2024 financial results
- Total loan amount increases by 14.0% QoQ and 23.6% YoY
- Number of active borrowers grows by 7.9% QoQ and 32.2% YoY
- Individuals may benefit from increased access to credit
- Global financial landscape may experience further growth in digital economy
