Strong Growth in Originations and Revenue
LendingClub reported a 37% growth in originations and a 32% increase in revenue year-over-year, with quarterly originations reaching $2.62 billion and revenue at $266 million.
Robust Financial Performance
Diluted earnings per share nearly tripled to $0.37, and return on tangible common equity rose to 13.2%. The company generated its highest ever net interest income of $158 million.
Marketplace Success
Marketplace revenue increased by 75%, marking the highest level in three years, and the company had its best quarter ever for structured certificate sales totaling over $1 billion.
Strategic Partnerships and Product Development
Secured a memorandum of understanding with BlackRock to purchase up to $1 billion through 2026. Launched LevelUp checking, resulting in a 7x increase in account openings.