Ping An Bank President Ji Guangheng: Retail business has stabilized, but returning to healthy growth still requires more time.

Blue Whale News, March 23 — (Reporter Jin Lei) On March 23, Ping An Bank held its 2025 Annual Performance Release Conference, where President Ji Guangheng clarified the core goal of “returning to growth” in 2026.

The recently released financial report shows that, influenced by market interest rate changes and business structure adjustments, Ping An Bank achieved operating income of 131.442 billion yuan in 2025, a decrease of 10.4% year-on-year; net profit was 42.633 billion yuan, down 4.2% year-on-year. As of the end of 2025, the bank’s total assets reached 5.93 trillion yuan, a 2.7% increase year-on-year.

The bank’s dividend plan indicates that in 2025, it plans to distribute a cash dividend of 5.96 yuan (tax included) per 10 shares, totaling 11.566 billion yuan in cash dividends, with 2.36 yuan already paid mid-year and a proposed 3.60 yuan for the final dividend. The cash dividend payout ratio is approximately 27.13%.

This marks the second consecutive year that Ping An Bank has faced a decline in both revenue and net profit. Compared to 2024, the bank’s revenue decline narrowed last year, and the net profit decline was roughly flat. However, the 2025 data signals a recovery in retail financials, with some operational indicators showing positive trends.

At the performance conference, when asked about the progress of reforms, Ji Guangheng, Party Committee Secretary and President, stated that over 70% of the reforms have been completed, and the remaining work mainly involves continuous refinement and gradual implementation. He also mentioned that during the bank’s internal meeting at the beginning of the year, a consensus was reached across the organization, which clarified the core goal of “returning to growth” in 2026.

In 2025, the bank’s net interest margin was 1.78%, down 9 basis points from 2024. Although the margin is still declining, the rate of decline has slowed significantly. This slowdown is mainly due to better management of liabilities. In 2025, Ping An Bank’s average interest-bearing liabilities interest rate dropped to 1.67%, a significant decrease of 47 basis points year-on-year; the average interest rate on deposits was 1.65%, down 42 basis points.

Ji Guangheng also said that the bank has completed its bottoming out of performance, and the most difficult period has passed. However, some pressures remain, including the stabilization of retail business. Returning retail to healthy profit growth still requires time, as the overall market demand for retail credit continues to face pressure.

From the annual report data, Ping An Bank’s retail business shows a trend of “ongoing pain but stabilizing and rebounding” after strategic adjustments. Although overall scale indicators have contracted, key operational metrics such as profitability and asset quality have shown significant marginal improvement.

The report indicates that in 2025, the bank’s retail financial net profit was 2.68 billion yuan, a substantial rebound from 289 million yuan the previous year.

As of the end of 2025, Ping An Bank’s retail customer base was approximately 127.9 million, a 1.9% increase from the end of the previous year. Retail customer assets under management (AUM) reached 4.24 trillion yuan, up 1.1% year-on-year.

However, the bank’s personal loan balance has decreased. As of the end of last year, the personal loan balance was 1.73 trillion yuan, down 2.3% from the end of the previous year.

It is also evident that Ping An Bank is actively adjusting its structure, reducing high-risk businesses such as credit card receivables, consumer loans, and commercial loans, which declined by 6.8%, 2.5%, and 5.2%, respectively. Meanwhile, the proportion of mortgage loans within personal loans has increased to 62.9%.

Additionally, wealth management has become a major growth point for retail business in 2025. Last year, Ping An Bank’s wealth management fee income reached 5.06 billion yuan, a 15.8% increase year-on-year; among these, agency income from personal insurance was 1.292 billion yuan (up 53.3%), personal financial agency income was 1.287 billion yuan (up 8.8%), and personal fund agency income was 2.29 billion yuan (up 8.9%).

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Editor: Wang Xinru