SoFi CEO Anthony Noto has announced annual growth of 26% and an upward revision of full-year forecasts. Despite a second quarter that fell short of expectations, Noto explains that this is part of an overall strategy that has seen the technology platform and financial services sector grow by 54% year-on-year. The company also reported positive earnings per share (EPS) for the second consecutive quarter.

He also addressed the misunderstanding regarding the number of shares and assured that the company had not suffered any dilution. 

Noto says that SoFi is well capitalised with a risk-based capital ratio of 17.1% and benefits from record deposit growth. He points out that SoFi hedges against interest rate exposure and maintains revenue diversification through its technology platform and investment service.

Noto also explains SoFi's cautious stance on the US economy, taking a conservative approach with modest forecasts for lower interest rates and GDP contraction for 2024.

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