Enova International has reported significant growth in its lending operations, with originations rising by 27% year over year in the second quarter, reaching nearly $2.3 billion. This marks the 11th consecutive quarter of at least 20% year-over-year growth, reflecting a strong demand from both consumers and small businesses. The company's consolidated net charge-off ratio also improved, decreasing by 0.8 percentage points to 7.3%, indicating a stable credit environment that has positively influenced its financial performance. CEO Steve Cunningham attributed these results to a resilient U.S. consumer landscape, supported by steady wage growth and moderating inflation, alongside a favorable backdrop for small businesses characterized by increased consumer spending and optimism.
Source: PYMNTS
