Ping An Bank's 2024 profit falls amid strategic shift

** Ping An Bank [SZSE:000001] reported a net profit of RMB 44.508 billion for 2024, a 4.2% decrease compared to RMB 46.455 billion in the previous year, according to its 2024 Annual Report. The bank's board has proposed a cash dividend of RMB 6.08 per 10 shares. Despite the profit dip, the bank highlighted its strategic focus on serving the real economy, strengthening risk management, and driving digital transformation. While net interest income decreased by 20.8% the bank increased their Green, Small Business, and Technical support. As part of their future initiative the bank also stated they continue to enforce better internal control and financial stability and are looking to expand the Green and Technical support. The 2024 results reflect Ping An Bank's ongoing transition amid challenging market conditions and proactive measures to position itself for long-term sustainable growth.