Betty Li's questions to Lufax Holding Ltd (LU) leadership • Q3 2024
Question
Betty Li inquired about the business impact of recent government stimulus policies and the company's financial and operational outlook for the current year and beyond.
Answer
Chairman and CEO Y.S. Cho explained that while stimulus is a long-term positive, it will take time to benefit small business owners. He stated Lufax will remain prudent, focusing on asset quality while growing its consumer finance business. Mr. Cho reaffirmed the full-year guidance for new loans and loan balance, noting that while the 100% guarantee model impacts short-term profit, lifetime profitability is expected to improve.