Ping An Bank posted a sharp profit rebound in the second year of the COVID-19 pandemic.
Ping An Bank posted operating revenues of 169.383 billion yuan in 2021, for year-on-year (YoY) growth of 10.3%, according to its 2021 annual performance report submitted to the Shenzhen Stock Exchange on 9 March.
The lender’s net profits for 2021 were 36.336 billion yuan, for a YoY surge of 25.6%.
The net profits of Ping An Bank’s retail operations were 21.498 billion yuan, for a YoY rise of 17.3%, accounting for 59.2% of all profits at the lender.
Ping An Bank’s foreign exchange and interest rate derivatives operations trading totalled USD$29.004 billion in 2021, for a YoY rise of 95.7%.
As of the end of 2021 Ping An Bank’s non-performing loan ratio stood at 1.02%, for a fall of 0.16 percentage points compared to the end of 2020.