Ping An Bank's net profit last year was 42.6 billion yuan, down 4.2% year-on-year, with revenue declining over 10%

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

In terms of revenue, in 2025, Ping An Bank’s net interest income was 88.021 billion yuan, down 5.8% year-on-year; non-interest net income was 43.421 billion yuan, down 18.5% year-on-year. The bank stated that, on one hand, factors such as declining loan interest rates and business structure adjustments led to a net interest margin of 1.78%, a decrease of 9 basis points year-on-year; on the other hand, market fluctuations mainly affected bond investments and other non-interest income sources, which declined.

Regarding net interest margin, Ping An Bank indicated in its annual report that under the background of asset re-pricing and supporting the real economy, the net interest margin is still under downward pressure, but the decline is expected to slow.

As of the end of 2025, Ping An Bank’s total assets amounted to 59.2577 trillion yuan, an increase of 2.7% from the previous year; among them, the total principal of loans and advances was 33.9084 trillion yuan, up 0.5%. Total liabilities were 53.7459 trillion yuan, an increase of 1.9%; the balance of customer deposits was 35.82755 trillion yuan, up 1.4%.

The annual report shows that in 2025, the average yield on loans and advances was 3.87%, down 67 basis points year-on-year; the average yield on corporate loans was 3.05%, down 51 basis points; the average yield on personal loans was 4.79%, down 77 basis points. Regarding deposits, the average interest rate paid on deposits in 2025 was 1.65%, down 42 basis points year-on-year.

On the retail side, by the end of 2025, Ping An Bank had 127.8963 million retail customers, an increase of 1.9% from the end of the previous year; retail customer assets under management (AUM) totaled 42.38409 trillion yuan, up 1.1%.

In terms of loans, by the end of 2025, the personal loan balance was 17.294 trillion yuan, a decrease of 2.3% from the previous year, with mortgage loans accounting for 62.9% of personal loans. The number of credit card accounts was 43.6931 million, with total annual spending of 2.012435 trillion yuan; auto finance loans totaled 304.801 billion yuan, up 3.7%, and new personal auto loans issued in the year reached 72.626 billion yuan, a 13.9% increase.

In wealth management, as of the end of 2025, Ping An Bank’s personal deposit balance was 1.2875 trillion yuan, unchanged from the previous year. The average daily personal deposit balance was 12.96805 trillion yuan, a 2.7% increase; among these, the average daily balance of personal demand deposits increased by 12.9%. Wealth clients numbered 1.4915 million, a 2.4% increase; private banking clients numbered 105,600, up 9.1%.

On the corporate side, by the end of 2025, Ping An Bank had 966,000 corporate clients, an increase of 13.2%; corporate deposits totaled 2.295255 trillion yuan, up 2.2%; corporate loans reached 1.663546 trillion yuan, up 3.5%.

Regarding asset quality, as of the end of 2025, Ping An Bank’s non-performing loan (NPL) ratio was 1.05%, down 0.01 percentage points from the previous year; the loan loss reserve coverage ratio was 220.88%, down 29.83 percentage points; the loan coverage ratio was 2.33%, down 0.33 percentage points.

Specifically, for corporate and personal loan non-performing rates, as of the end of 2025, Ping An Bank’s corporate NPL ratio was 0.87%, up 0.17 percentage points; the bank stated that this was mainly due to increased risks in some existing real estate business, but the overall asset quality impact is manageable, and corporate credit risk indicators remain good. The personal NPL ratio was 1.23%, down 0.16 percentage points. Among personal NPLs, aside from a slight increase in operational loan NPLs, the NPL ratios for housing mortgages, credit card receivables, and consumer loans all declined.

Additionally, as of the end of 2025, Ping An Bank’s Ping An Wealth Management’s total assets reached 14.522 billion yuan, with net assets of 13.943 billion yuan, and a net profit of 1.476 billion yuan for the year. The managed wealth products totaled 1.092211 trillion yuan.

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