SoFi Technologies (STU:6B0) Credit Losses Provision : €50 Mil (As of Mar. 2024)

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What is SoFi Technologies Credit Losses Provision?

SoFi Technologies's credit losses provision for the three months ended in Mar. 2024 was €7 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was €50 Mil.

SoFi Technologies's quarterly credit losses provision declined from Sep. 2023 (€20 Mil) to Dec. 2023 (€11 Mil) and declined from Dec. 2023 (€11 Mil) to Mar. 2024 (€7 Mil).

SoFi Technologies's annual credit losses provision increased from Dec. 2021 (€7 Mil) to Dec. 2022 (€51 Mil) but then declined from Dec. 2022 (€51 Mil) to Dec. 2023 (€50 Mil).

SoFi Technologies Credit Losses Provision Historical Data

The historical data trend for SoFi Technologies'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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SoFi Technologies Credit Losses Provision Chart

SoFi Technologies Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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6.70

51.29

50.39

SoFi Technologies Quarterly Data
	Dec18	Dec19	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													7.85	11.64	20.46	11.09	6.61

SoFi Technologies 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 €50 Mil.

SoFi Technologies (STU:6B0) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » SoFi Technologies Inc (STU:6B0) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

SOFI:USA SOFI:Mexico 6B0:Germany

Address

234 1st Street, San Francisco, CA, USA, 94105

Website

https://www.sofi.com

SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking.

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