Ping An Bank reports profit dip, plans dividend payout

Ping An Bank announced a 4.2% year-over-year decrease in net profit attributable to shareholders, reporting RMB 44.51 billion for 2024. Operating income also declined by 10.9% to RMB 146.69 billion. The bank's board approved a profit distribution plan proposing a cash dividend of RMB 6.08 per 10 shares, based on the total share capital as of December 31, 2024. Asset quality remained stable, with a non-performing loan ratio of 1.06% and a provision coverage ratio of 250.71%. Deposits grew by 3.7% to RMB 3.53 trillion, while loans decreased slightly by 1% to RMB 3.37 trillion. The core tier 1 capital adequacy ratio stood at 9.12%. The bank's cost-to-income ratio was 27.66%.