LendingClub says 2021 losses will be lower than expected americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
LendingClub Reports First Quarter 2021 Results
Sequential Revenue Growth of 40% Exceeds High End of Guidance Raising Full Year Outlook
News provided by
Share this article
SAN FRANCISCO, April 28, 2021 /PRNewswire/
LendingClub Corporation (NYSE: LC), America s leading digital marketplace bank, today announced financial results for the first quarter ended March 31, 2021. We had a great start to the year, accelerating personal loan origination growth by leveraging our strategic advantages including our customer base of 3 million members, our data and technology capabilities, and our newly acquired digital bank, said Scott Sanborn, CEO of LendingClub. Personal loans are paving the road to our broader ambitions as our vertically integrated model delivers a new and recurring revenue stream, lowers our issuance costs and generates strong and sustained growth.
Search
LendingClub Reports Q1 Net Loss of $41 Million, Looks to Move Forward as Digital Bank with Radius Acquisition
April 28, 2021 @ 5:00 pm By JD Alois
LendingClub Corporation (NYSE: LC), has announced Q1 2021 earnings delivering a net loss of $41 million for the quarter. Loan originations were $1,483.2 billion for the quarter. In Q1 2020 that number was $2,521 billion. Loan originations in Q4 of 2020 were $912.0 million. LendingClub touted the 63% sequential growth in origination volume following a challenging year impacted by the ongoing COVID-19 health crisis.
Scott Sanborn, CEO of LendingClub, issued the following statement on the results:
“We had a great start to the year, accelerating personal loan origination growth by leveraging our strategic advantages including our customer base of 3 million members, our data and technology capabilities, and our newly acquired digital bank. Personal loans are paving the road to our broader ambitions as our vertically integrated mod
How banks should adapt for digital growth americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.