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FINV - China's Economic Slump Leaves Internet Lenders Battling Bad Loans
PPDAI Group Inc. American Depositary Shares each representing five Class A
The fortunes of consumer lenders are a good proxy for the state of an economy. When times get rough, individuals with shaky income are often among the first to feel the pinch.
The trend suggests borrowers are having growing difficulty repaying their debt as China’s economy slows after years of breakneck growth.
After surviving a harsh regulatory crackdown to rein in rampant growth among internet lending platforms, the three fintechs have come a long way, increasingly shifting their focus to screening for relatively high-quality borrowers.