Hello, ladies and gentlemen. Thank you for participating in the Third Quarter 2019 Earnings Conference Call for FinVolution Group, formerly known as PPDAI Group Inc or Paipaidai. [Operator Instructions]
I will now turn the call over to your host, Mr. Jimmy Tan, Investor Relations for the Company. Jimmy, please go ahead.
Hello, everyone, and welcome to our third quarter 2019 earnings conference call.
The Company results were issued via news wire services earlier today and are posted online. You can download the earnings release and sign up for the Company email alerts by visiting the IR section of our website ir.ppdai.com.
Mr. Cliff Zhang, our Chairman and Co-Chief Executive Officer; Mr. Feng Zhang, our Co-Chief Executive Officer; and Mr. Simon Ho, our Chief Financial Officer, will start the call with their prepared remarks and conclude with a Q&A session.
During this call we will be referring to certain non-GAAP financial measures to review and assess our operating performance. Non-GAAP financial measures are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with US GAAP. For information about these non-GAAP measures and reconciliation to GAAP measures, please refer to our earnings press release.
Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the Company results may be materially different from the views expressed [Indecipherable]. Further information regarding these and other risks and uncertainties are included in the Company's filings with the US Securities and Exchange Commission. The Company does not assume any obligation to update any forward-looking statements except as required under applicable laws.
Finally, we have put a slide presentation on our IR website providing details of the results for the quarter.
I will now turn the call over to our Chairman and Co-CEO, Cliff. Please go ahead, sir.
Hello, everyone, and thank you for joining our third quarter 2019 earnings conference call today.
In third quarter, we continued to deliver healthy and solid results and transition our funding sources towards institutions. Specifically, the proportion of loan originations facilitated by institutional partners increased to 75% for the quarter. More excitingly, our rapid transition in funding base has been achieved in the same time with continuous growth in loan volume. In the third quarter, we achieved year-over-year and quarter-over-quarter loan volume growth of 66% and 14% respectively to RMB24.6 billion. Consequently, for the first nine months of 2019, our loan origination volume reached RMB65.3 billion, which has exceeded our loan origination volume in the full year 2018 of RMB61.5 billion.
Our operating revenue increased by 35% year-over-year to RMB1.5 billion and our operating income increased by 32% year-over-year to RMB649 million.
Many of you may be aware that in our most recent Annual General Meeting, our shareholders approved the change of our name to FinVolution Group and in Chinese to [Foreign Speech]. Our
Chairman and Co-Chief Executive Officer
Co-Chief Executive Officer
Simon Tak Leung Ho
Chief Financial Officer
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