Qifu Technology (Qifu Technology) Credit Losses Provision : $439 Mil (As of Mar. 2024)

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What is Qifu Technology Credit Losses Provision?

Qifu Technology's credit losses provision for the three months ended in Mar. 2024 was $133 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $439 Mil.

Qifu Technology's quarterly credit losses provision increased from Sep. 2023 ($75 Mil) to Dec. 2023 ($156 Mil) but then declined from Dec. 2023 ($156 Mil) to Mar. 2024 ($133 Mil).

Qifu Technology's annual credit losses provision increased from Dec. 2021 ($241 Mil) to Dec. 2022 ($318 Mil) and increased from Dec. 2022 ($318 Mil) to Dec. 2023 ($380 Mil).

Qifu Technology Credit Losses Provision Historical Data

The historical data trend for Qifu Technology's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Qifu Technology Credit Losses Provision Chart

Qifu Technology Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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125.96

190.85

240.84

317.90

379.95

Qifu Technology Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															74.97	74.08	75.19	156.45	133.22

Qifu Technology Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $439 Mil.

Qifu Technology (Qifu Technology) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Qifu Technology Inc (NAS:QFIN) » Definitions » Credit Losses Provision

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03660:Hong Kong

Address

No. 1217 Dongfang Road, 7th Floor Lujiazui Finance Plaza, Pudong New Area, Shanghai, CHN, 200122

Website

https://www.qifu.tech

Qifu Technology Inc is a Credit-Tech platform in China. It provides credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions, whereby it deploys its technology solutions to help financial institutions identify the diversified needs of consumers and SMEs, effectively access prospective borrowers that are creditworthy through multi-channels, enhance credit assessment on prospective borrowers, and manage credit risks and improve collection strategies and efficiency, among others.