v3.22.2.2
Interest and Financing Service Fees on Loans
9 Months Ended
Sep. 30, 2022
Interest and financing service fees on loans [Abstract]  
Interest and financing service fees on loans
10Interest and financing service fees on loans

 

Interest and financing service fees on loans, which include financing service fees on loans, are recognized in the unaudited condensed consolidated statements of comprehensive income using the effective interest method. Interest income on loans which is recognized with contractual interest rate were RMB1,319,660,155 and RMB1,178,852,531 for the period from January 1 to September 30, 2021 and 2022, respectively. Financing service fees on loans, are deferred and amortized over the contractual life of the related loans utilizing the effective interest method. Financing service fee on loans were RMB5,996,859 and RMB1,254,135 for the period from January 1 to September 30, 2021 and 2022, respectively.

 

Interest and fees income and costs from traditional facilitation model and new collaboration model for the period from January 1, 2022 to September 30, 2022 are listed as below:

 

   Nine months ended September 30, 2022 
   Traditional
facilitation
model
   Collaboration
Model
   Total 
   RMB   RMB   RMB 
             
Interest and financing service fees on loans   24,901,747    1,155,204,919    1,180,106,666 
Interests on deposits with banks   530,044    8,225,880    8,755,924 
Interest expense on interest-bearing borrowings   (7,859,919)   (575,730,015)   (583,589,934)
                
Net interest and fees income   17,571,872    587,700,784    605,272,656 
                
Interest income charged to sales partners   
-
    89,501,328    89,501,328 
Collaboration cost for sales partners   
-
    (241,162,974)   (241,162,974)
                
Net interest and fees income after collaboration cost   17,571,872    436,039,138    453,611,010 
                
Provision for credit losses   82,716,654    (236,957,351)   (154,240,697)
                
Net interest and fees income after collaboration cost and provision for credit losses   100,288,526    199,081,787    299,370,313