Total loan origination volume was RMB2.9B during the fourth quarter of 2022, representing a decrease of 6.5% from RMB3.1B in the same period of 2021. Total volume of loans recommended to commercial banks was RMB1.9B during the fourth quarter of 2022. Total number of transactions was 7,079 during the fourth quarter of 2022, representing an increase of 27.3% from 5,559 in the same period of 2021. "The year 2022 is another important year in the history of CNFinance. In 2022, China’s real estate market continued to face downward pressures, and we have experienced the adjustment to China’s pandemic prevention and control policies. During the year, the management considered the challenges and chances in a synergetic way and strove to promote high-quality development of our services. With the joint efforts of every employee, we were able to deliver a solid result at year end. We concluded the year facilitating loans of over RMB12.2 billion with trust company partners and introducing loans of RMB2.5 billion to the commercial bank partners. The commercial bank partnership model has grown and become a new contributor to the Company’s revenue stream. At the same time, interest income charged to sales partners also increased significantly in the fiscal year of 2022 as compared to that of 2021. We recorded a net income of 137.8 million, representing a year on year increase of 111.3%. As we affirm the achievements we have made, we must not lose sight of the difficulties confronting us. We implemented a series of measures to improve our management efficiencies and will continue to refine our collaboration model with commercial banks. We plan to invest more in technology to increase the overall efficiency in borrower acquisition and initial screening process. We will also work closely with commercial bank partners to provide better post-loan services to MSE owners. We believe such advancements will help CNFinance build more solid foundations to pursue continuous development in China’s inclusive finance industry and allow us to provide better services to more MSE owners and help them achieve their business goals," commented Zhai Bin, Chairman and CEO of CNFinance.
Published first on TheFly
