Ping An Bank: Net profit fell 3.5% year-over-year, but asset quality and capital ratios remained robust

Revenue and operating profit grew steadily in 1H25, driven by strong Life & Health NBV growth, improved P&C underwriting, and robust capital management. Customer engagement, digitalization, and sustainability initiatives advanced, with high solvency and dividend growth.

Original document: Ping An Bank Co. Ltd. Class A [000001] Slides Release — Aug. 23 2025

Revenue and net profit declined year-over-year due to lower interest rates and loan structure adjustments, but asset quality and capital adequacy improved. Deposit growth, cost optimization, and risk management were highlights, with a stable NPL ratio and strong provision coverage. Interim dividend was declared and digital transformation advanced.

Original document: Ping An Bank Co. Ltd. Class A [000001] Interim report — Aug. 23 2025

Ping An Bank said its board approved routine connected transactions with its directors, supervisors and senior management.

The transactions, priced at market terms, cover deposits, loans and financial services, according to a Friday filing with the Shenzhen bourse.

Shares of the bank rose 1% in recent trade.

Ping An Bank is offering blind boxes of collectible toys Labubu for deposits over 50,000 yuan, sparking a debate about compliant deposit-gathering tactics, YiCai Global reported Tuesday.

While gift promotions aren't new, regulators have banned interest subsidies and unfair competition, pushing banks toward other alternatives, according to the report. The trend follows recent deposit rate cuts below 1% by major state banks, intensifying competition for retail funds.

Sources said such campaigns target youth demographics and generate social media buzz but warned they increase banks' non-interest expenses, YiCai Global wrote.

Also, a source cautioned that while gifts circumvent rate controls, they may worsen net interest margin pressures in the long run, according to the report.

OPAT grew 2.4% year-over-year to RMB37.9 billion, while net profit declined 26.4% due to investment variance and one-off items. Life & Health NBV surged 34.9%, and P&C premium income rose 7.7%, with solvency ratios well above regulatory requirements.

Original document: Ping An Bank Co. Ltd. Class A [000001] Slides Release — Apr. 19 2025

Q1 2025 saw revenue and net profit decline year-over-year, but asset quality and capital adequacy remained stable. The bank advanced digitalization, grew corporate and green lending, and issued RMB 30 billion in perpetual bonds.

Original document: Ping An Bank Co. Ltd. Class A [000001] Interim report — Apr. 19 2025