Raising 2022 Full Year Outlook
Improving Operating Leverage While
Continuing to Invest in Long-term Growth
Efficiency Ratio
(Non-interest Expense as a % of Net Revenue¹)
($ in millions)
Total Non-interest Expense¹
($ in millions)
Efficiency Ratio
1Q21
2Q21
3Q21
4Q21
1Q22
127%
Non-Interest Expense less Marketing
Compensation & Benefits
64.4
71.9
73.3
78.7
81.6
108%
Marketing % Revenue
Marketing
19.5
35.1
50.8
50.7
55.1
Equipment & Software
7.9
9.3
10.3
12.0
11.0
78%
73%
72%
61%
66%
Occupancy
6.9
6.2
6.5
4.7
6.0
52%
52%
47%
Depreciation & Amortization
11.8
11.5
10.5
10.5
11.1
Professional Services
11.6
11.5
11.7
12.7
12.4
18%
17%
21%
19%
19%
Other Non-interest Expense
12.1
14.6
15.6
18.9
14.0
1Q21
2Q21
3Q21
4Q21
1Q22
Total Non-Interest Expense
134.3
160.1
178.8
188.2
191.2
LendingClub
1) Note: There may be differences between the sum of the quarterly results due to rounding.
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