Ping An Bank 2025 Annual Report: Steady Operations, Unwavering Progress, Continuous Advancement of High-Quality Development

Ping An Bank (Ping An Bank, SZSE: 000001) submitted its 2025 annual performance report to the Shenzhen Stock Exchange today. Ji Guangheng, Secretary of the Party Committee and President of Ping An Bank, stated in his report that 2025 is the final year of China’s 14th Five-Year Plan and also a year for laying out the 15th Five-Year Plan. China’s economy remains generally stable with steady progress, reform and opening-up have taken new steps, new quality productivity is steadily developing, and high-quality development is being solidly promoted. Ping An Bank adheres to the political and people-oriented nature of financial work, focuses on the “five major articles” of financial services, unwaveringly advances digital transformation, and moves forward with steady management, practicing its mission through pragmatic actions. The bank maintains a stable and improving trend in business development, with enhanced quality and efficiency.

In 2025, influenced by market interest rate changes and adjustments in business structure, Ping An Bank achieved operating income of 131.442 billion yuan, down 10.4% year-on-year. Meanwhile, it continued to reduce costs and increase efficiency, improve investment productivity, strengthen risk management, and realized net profit of 42.633 billion yuan, down 4.2% year-on-year. With the ongoing deepening of strategic reforms, some operational indicators have shown positive trends, laying a solid foundation for sustainable and healthy future development.

Key operational performance:

Continuously optimize asset structure to support the real economy. As of the end of 2025, total assets reached 5.9258 trillion yuan, an increase of 2.7% from the previous year; loans and advances to customers totaled 3.3908 trillion yuan, up 0.5%; corporate loan balances increased by 3.5%, continuing to strengthen support for the real economy. Loans to technology companies and green finance sectors grew well; retail asset portfolio strategies were further optimized, improving the proportion of high-quality customers, and balancing “volume, price, and risk.”

Deposit scale remained stable, with significant improvement in interest payout rates. As of the end of 2025, total liabilities were 5.3746 trillion yuan, up 1.9%; deposit principal balance was 3.5828 trillion yuan, up 1.4%. The bank strengthened the absorption of low-cost deposits and agilely adjusted the pace of deposit and interbank liability collection, reducing overall liability costs. In 2025, the average interest-bearing liability rate was 1.67%, down 47 basis points from 2024; the average interest payout rate on deposits was 1.65%, down 42 basis points year-on-year. The daily average balance of demand deposits was 1.1918 trillion yuan, an increase of 5.8% compared to 2024.

Strengthen comprehensive risk management, with overall asset quality remaining stable. Actively responding to macroeconomic changes, the bank continued to optimize asset and customer structures. As of the end of 2025, non-performing loan ratio was 1.05%, down 0.01 percentage points from the previous year; provision coverage ratio was 220.88%, maintaining strong risk buffer capacity.

Business strategy transformation: coordinated development of three major sectors

Retail Business

Ping An Bank actively upholds the political and people-oriented principles of financial work, practicing the original mission of serving the real economy and inclusive livelihood. It remains committed to its retail strategy. Deepening the retail strategic transformation, centering on customer needs, building a distinctive retail bank, and pursuing high-quality, sustainable development with the goal of “efficiency first, scale second.” By the end of 2025, retail customers numbered 127.896 million, an increase of 1.9%; retail assets under management (AUM) reached 4.2384 trillion yuan, up 1.1%.

Loan Business: Responding to external market changes, the bank continued to optimize its loan structure to ensure healthy medium- and long-term development. As of the end of 2025, personal loans totaled 1.7273 trillion yuan, down 2.3%; mortgage loans accounted for 62.9% of personal loans. Credit card circulation reached 43.6931 million accounts, with total annual consumption of 2.0124 trillion yuan; auto finance loans stood at 304.801 billion yuan, up 3.7%, with new personal auto loans issued totaling 72.626 billion yuan, a 13.9% increase.

Wealth Management Business: As of the end of 2025, personal deposits totaled 1.2875 trillion yuan; AUM from payroll and batch business clients was 1.16609 trillion yuan, up 19.3%; customer deposit balances reached 393.871 billion yuan, up 10.8%. The average daily balance of personal deposits was 1.2968 trillion yuan, an increase of 2.7% from 2024; the average interest rate on personal deposits was 1.82%, down 36 basis points from 2024. Wealth clients numbered 1.4915 million, an increase of 2.4%; private banking clients were 105,600, up 9.1%. Private banking AUM was 1.9913 trillion yuan, up 0.8%.

Digital and comprehensive financial platforms: Continuously iterating capabilities of digital and integrated financial platforms, expanding customer marketing channels and service scope, providing multi-scenario, multi-ecosystem comprehensive service models, and optimizing customer experience. As of the end of 2025, the Ping An Pocket Bank APP had 182.2326 million registered users, a 4.7% increase; monthly active users (MAU) reached 39.9547 million. In 2025, new wealth clients contributed 50.2% of total new clients, new AUM accounted for 49.1%, and new credit card accounts made up 12.3%.

Corporate Business

Ping An Bank develops corporate business from customer needs, cultivating and strengthening strategic client groups through long-term deep management, solidifying the foundation for corporate growth. As of the end of 2025, corporate deposits totaled 2.2953 trillion yuan, up 2.2%; corporate loans reached 1.6635 trillion yuan, up 3.5%. Following national policies and market trends, the bank selected key industries, increased lending, optimized asset structure, and promoted balanced development of asset businesses.

Industry Focus: Upgrading traditional industries and nurturing emerging industries, focusing on key sectors such as public utilities, digital industries, manufacturing, healthcare, energy, and automotive. The bank optimized market, product, and risk strategies, providing tailored industry services to create competitive advantages. As of the end of 2025, loans to these key sectors increased by 50.146 billion yuan from the previous year.

Customer Focus: Responding to the trend of integrated, ecological, and comprehensive corporate management, the bank established a tiered management system for strategic, medium-sized, and small clients, expanding key customer groups such as institutional clients and tech companies, and promoting customer refinement. As of the end of 2025, corporate clients numbered 966,000, an increase of 13.2%; strategic clients at the head office numbered 239, with a loan balance of 373.129 billion yuan, up 20.5%; strategic client deposits at the head office were 481.973 billion yuan, up 2.4%.

Product Focus: Centered on core clients, deepening industry scenarios, leveraging “finance + technology” capabilities, strengthening industry-specific, differentiated, and comprehensive product portfolios, and enhancing customer service experience. As of the end of 2025, the digital treasury platform signed 4,409 corporate clients, up 48.2%. Supply chain finance financing volume was 1.9679 trillion yuan, up 23.1%; cross-border trade financing volume was 325.965 billion yuan, up 30.1%.

Interbank Funds Business

The interbank funds business actively responds to policy, market, and environmental changes, driven by “investment transactions + client services,” continuously improving investment management and enriching client services. The investment transaction area optimized asset management models, maintaining liquidity and safety while adopting diversified asset allocation strategies to balance risk and return.

In investment transactions, Ping An Bank closely monitors domestic and international markets, strengthening multi-product, cross-market asset allocation, adjusting positions as needed for steady investment, and utilizing refined trading strategies to seize cross-market and cross-asset structured trading opportunities.

In client services, aligned with national strategies to activate capital markets and serve the real economy, the bank promoted specialized trading services, supporting high-quality financial market development, and actively expanding in institutional sales, asset custody, and corporate hedging. By the end of 2025, the number of valued client accounts reached 1,512; domestic and foreign institutional sales of bonds totaled 6.77 trillion yuan, a 49.1% increase; the “Bank e-Connect” platform had 2,785 partner clients, with asset management products sold via the platform totaling 267.142 billion yuan. Bond sales through interbank channels reached 301.098 billion yuan, up 3.8%; assets under custody of asset management products totaled 5.07 trillion yuan, an increase of 1.6%; and 16,735 clients used Ping An Bank for FX spot and derivatives hedging, an 11.7% increase.

Practicing Sustainable Development and Fulfilling Social Responsibilities

Actively promoting green finance. Ping An Bank firmly implements the green development requirements of the 20th Party Congress, thoroughly executes the national carbon neutrality strategy, and deeply develops green financial industries. It offers a diversified product system including green loans, green bonds, and carbon finance, providing comprehensive financial support for green and low-carbon circular economies. As of the end of 2025, green loan balances reached 266.433 billion yuan, up 12.2%.

Supporting the real economy. The bank actively practices the “five major articles” of financial work, continuously increasing support for the real economy, inclusive finance, manufacturing, and high-tech enterprises. As of the end of 2025, total on- and off-balance sheet credit extended was 4.8933 trillion yuan. The number of inclusive small micro enterprise loan accounts was 909,400, with a balance of 484.522 billion yuan; new inclusive small micro loans issued totaled 286.126 billion yuan, a 29.5% increase, with weighted average interest rates slightly lower than the previous year. Non-performing loan ratio remains within a reasonable range. The bank also deepens tech finance operations, empowering technological innovation. As of the end of 2025, tech enterprise clients numbered 319,170, up 21.1%; tech loan balances reached 306.582 billion yuan, up 9.8%.

Vigorously supporting rural revitalization. The bank conscientiously implements the central government’s policies, continuously practices the rural revitalization strategy, improves financial services for rural reform, and supports high-quality development of the real economy. In 2025, rural revitalization support funds totaled 51.118 billion yuan, with cumulative investments of 203.365 billion yuan; rural revitalization debit cards issued numbered 39,800, with a total of 296,200 cards issued. As of the end of 2025, rural loans amounted to 116.053 billion yuan, an increase of 1.358 billion yuan from the previous year.

With resolve and responsibility, moving forward. Looking ahead, Ping An Bank states it will stay true to its original mission, continue to enhance its ability to serve the real economy, strengthen financial risk control, improve management levels, maintain steady operations, and strive to create greater value for the country, society, customers, shareholders, and employees, actively supporting a good start for the 15th Five-Year Plan.