LendingClub Corporation reported significant financial growth in its latest quarterly results, with total net revenue reaching $248.4 million for the second quarter of 2025, a 33% increase from $187.2 million in the same period last year. The company’s net income also saw a substantial rise, climbing to $38.2 million, compared to $14.9 million in the prior year, marking a 156% increase. This growth was driven by a 32% year-over-year increase in loan originations, which totaled $2.39 billion, bolstered by a surge in unsecured personal loans.
The company’s marketplace revenue, a key component of its income, increased by 59% to $89.6 million, primarily due to higher origination volumes and improved loan sales prices. Additionally, net interest income rose by 20% to $154.2 million, attributed to an increase in total interest-earning assets and a decrease in interest expenses related to lower average rates on deposits. The net interest margin improved to 6.14%, up from 5.75% in the previous year.
In terms of operational metrics, LendingClub's total assets grew by 12% year-over-year to $10.78 billion, driven by an increase in securities related to its Structured Program transactions and loan portfolios. Total deposits also rose by 13% to $9.14 billion, reflecting growth in high-yield savings accounts. The company’s employee headcount increased as well, contributing to a rise in compensation and benefits expenses, which were up 10% year-over-year.
The provision for credit losses increased by 12% to $39.7 million, reflecting a higher volume of originated loans retained as held for investment. However, this was offset by improved credit performance, leading to a net charge-off ratio of 3.0%, down from 6.2% a year earlier. Looking ahead, LendingClub remains optimistic about its growth trajectory, with expectations of continued demand for its loan products and a focus on enhancing its digital banking capabilities. The company is also preparing for the transition to its new headquarters in San Francisco, which is expected to further support its operational efficiency and growth initiatives.
About LendingClub Corp
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