Ping An Bank's net profit last year was 42.6 billion yuan, a year-on-year decrease of 4.2%, with revenue declining by over 10%.

On March 20, Ping An Bank (000001.SZ) disclosed its performance report for the year 2025, showing that the bank achieved a net profit attributable to its shareholders of 42.633 billion yuan, a decrease of 4.2% year-on-year; and operating revenue of 131.442 billion yuan, a decrease of 10.4% year-on-year.

In terms of revenue, in 2025, Ping An Bank achieved net interest income of 88.021 billion yuan, a decrease of 5.8% year-on-year; and non-interest income of 43.421 billion yuan, a decrease of 18.5%. Ping An Bank stated that, on one hand, influenced by factors such as declining loan rates and business structure adjustments, the net interest margin was 1.78%, a decrease of 9 basis points year-on-year; on the other hand, the non-interest income from bond investments and other businesses declined mainly due to market volatility.

Regarding the assessment of the net interest margin, Ping An Bank indicated in its annual report that, in the context of asset repricing and supporting the real economy, the net interest margin is still expected to face downward pressure, but the degree of decline is expected to moderate.

As of the end of 2025, Ping An Bank’s total assets amounted to 5,925.777 billion yuan, an increase of 2.7% from the end of the previous year; the total principal amount of loans and advances was 3,390.840 billion yuan, an increase of 0.5% from the end of the previous year. The total liabilities were 5,374.593 billion yuan, an increase of 1.9% from the end of the previous year; the balance of deposits was 3,582.755 billion yuan, an increase of 1.4% from the end of the previous year.

The annual report showed that in 2025, the average yield on loans and advances from Ping An Bank was 3.87%, a decrease of 67 basis points year-on-year, with the average yield on corporate loans at 3.05%, a decrease of 51 basis points year-on-year, and the average yield on personal loans at 4.79%, a decrease of 77 basis points year-on-year. In terms of deposits, Ping An Bank had an average interest rate on deposits of 1.65% in 2025, a decrease of 42 basis points year-on-year.

On the retail side, as of the end of 2025, Ping An Bank had 12.78963 million retail customers, an increase of 1.9% from the end of the previous year, managing retail customer assets (AUM) of 4,238.409 billion yuan, an increase of 1.1% from the end of the previous year.

In terms of loans, as of the end of 2025, Ping An Bank’s personal loan balance was 1,727.294 billion yuan, a decrease of 2.3% from the end of the previous year, with mortgage loans accounting for 62.9% of personal loans. The number of active credit cards was 43.6931 million, with a total consumption amount of 2,012.435 billion yuan for the year; the balance of auto finance loans was 304.801 billion yuan, an increase of 3.7% from the end of the previous year, and new personal loans for new energy vehicles amounted to 72.626 billion yuan, a year-on-year increase of 13.9%.

In terms of wealth management, as of the end of 2025, Ping An Bank’s personal deposit balance was 1,287.5 billion yuan, unchanged year-on-year. The average daily balance of personal deposits was 1,296.805 billion yuan, a year-on-year increase of 2.7%, with the average daily balance of personal demand deposits increasing by 12.9% year-on-year; the number of wealth clients was 1.4915 million, an increase of 2.4% from the end of the previous year, with private banking clients totaling 105.6 thousand, an increase of 9.1% from the end of the previous year.

On the corporate side, as of the end of 2025, the number of corporate clients of Ping An Bank reached 966,000, an increase of 13.2% from the end of the previous year; the balance of corporate deposits was 2,295.255 billion yuan, an increase of 2.2% from the end of the previous year; and the balance of corporate loans was 1,663.546 billion yuan, an increase of 3.5% from the end of the previous year.

Regarding asset quality, as of the end of 2025, Ping An Bank’s non-performing loan ratio was 1.05%, a decrease of 0.01 percentage points from the end of the previous year; the provision coverage ratio was 220.88%, a decrease of 29.83 percentage points from the end of the previous year; and the provision-to-loan ratio was 2.33%, a decrease of 0.33 percentage points from the end of the previous year.

Specifically, regarding the non-performing situation of corporate and personal loans, as of the end of 2025, Ping An Bank’s non-performing rate for corporate loans was 0.87%, an increase of 0.17 percentage points from the end of the previous year. Ping An Bank stated that this was mainly due to the increased risks in some existing real estate businesses, but the impact on overall asset quality is controllable, and the corporate credit risk indicators remain at a good level; the non-performing rate for personal loans was 1.23%, a decrease of 0.16 percentage points from the end of the previous year. Among personal loans, except for the non-performing rate of operational loans, which increased year-on-year, the non-performing rates for mortgage loans, credit card receivables, and consumer loans all decreased.

In addition, as of the end of 2025, the total assets of Ping An Wealth Management reached 14.522 billion yuan, with a net asset of 13.943 billion yuan, achieving a net profit of 1.476 billion yuan for the year, and the balance of managed wealth products was 1,092.211 billion yuan.

As of the end of 2025, Ping An Bank’s core Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio, and capital adequacy ratio were 9.36%, 11.49%, and 13.77%, respectively, increasing by 0.24, 0.80, and 0.66 percentage points from the end of the previous year, all meeting regulatory requirements.

The Paper reporter Hu Zhitian

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