Jiayin Profit Jumps On Revenue Growth

Jiayin Group Inc. (JFIN), a fintech platform in China, reported nearly 100% growth in profit in the third quarter, helped particularly by growth in loan origination volume.

Profit for the third quarter was RMB248.1 million or $34.9 million, an increase of 98.8% from RMB128.37 million in the same period last year.

Earnings per share for the quarter was RMB1.15 or $0.16, up from RMB0.59 last year.

Quarterly revenue increased 55% year-on-year to RMB894.3 million or $125.7 million, driven by a 123.5% growth in loan origination volume.

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