Cases
Ping An Bank
- Categories:Financial insurance
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- Time of issue:2020-04-23 15:34
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(Summary description)Ping An Bank is a national joint-stock commercial bank headquartered in Shenzhen (SZ000001). Its predecessor, Shenzhen Development Bank, was the first publicly listed national joint-stock bank in Mainland China. China Ping An and its controlling subsidiaries are the controlling shareholders of the Bank. As of the end of 2019, there were 34,253 active employees, providing customers with a variety of financial services through 91 branches and 1,058 business institutions across the country.
Ping An Bank
(Summary description)Ping An Bank is a national joint-stock commercial bank headquartered in Shenzhen (SZ000001). Its predecessor, Shenzhen Development Bank, was the first publicly listed national joint-stock bank in Mainland China. China Ping An and its controlling subsidiaries are the controlling shareholders of the Bank. As of the end of 2019, there were 34,253 active employees, providing customers with a variety of financial services through 91 branches and 1,058 business institutions across the country.
- Categories:Financial insurance
- Author:
- Origin:
- Time of issue:2020-04-23 15:34
- Views:
Information
Ping An Bank is a national joint-stock commercial bank headquartered in Shenzhen (SZ000001). Its predecessor, Shenzhen Development Bank, was the first publicly listed national joint-stock bank in Mainland China. China Ping An and its controlling subsidiaries are the controlling shareholders of the Bank. As of the end of 2019, there were 34,253 active employees, providing customers with a variety of financial services through 91 branches and 1,058 business institutions across the country.
Development strategy
The Bank closely followed the national strategy, unswervingly promoted retail transformation, continued to deepen the twelve-character strategy of "technology leadership, retail breakthroughs, and excellence in the public", using leading technology as the development engine, and comprehensively building retail, corporate and capital The "3+2+1" business strategy of the interbank business continues to strengthen financial risk prevention and control, and is committed to building "the most outstanding and the world's leading smart retail bank in China."
Performance Overview
Since the retail transformation in 2016, the Bank has promoted profit growth with a balanced structure and comprehensively promoted digitalized operations. In the past three years, the effectiveness of the retail transformation has been recognized by the market and has also set a new market record. In 2019, Ping An Bank's share price rose by 77% for the whole year; in the case of declining deviation and increasing provision coverage, it achieved operating income of 137.758 billion yuan, an increase of 18.2% year-on-year; net profit of 28.195 billion yuan, an increase of 13.6% year-on-year; Revenue and net profit growth in 2019 both hit new highs since the transition.
In September 2019, the Bank successfully converted 26 billion convertible bonds, with a conversion rate close to 100%. It took only 19 trading days from the start of the conversion to trigger the conditional redemption to refresh the market record.
At the end of 2019, the Bank's total assets were RMB 3,939.70 billion, an increase of 15.2% from the end of the previous year; the balance of deposits received was RMB 2,436,935 million, an increase of 14.5% from the end of the previous year; the total amount of loans and advances (including discounts) was RMB 2,332,205 million, an increase from the end of the previous year 16.3%.
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