Ping An Bank navigates challenges, prioritizes transformation in 2024

** Ping An Bank (SZSE: 000001) reported a net profit of CNY 44.51 billion in 2024, a 4.2% year-over-year decrease, amid market shifts and proactive balance sheet adjustments. Operating revenue reached CNY 146.70 billion, a decline of 10.9%. The bank attributed this to strategic repositioning, while simultaneously emphasizing its commitment to China's real economy through targeted lending initiatives. To manage risk effectively, the bank maintained a steady non-performing loan ratio of 1.06% and a coverage ratio of 250.71%. The board has recommended a cash dividend of CNY 3.62 per 10 shares and outlined a three-year shareholder return plan. Looking ahead, Ping An Bank will enhance financial service capabilities for key sectors, strengthen risk management, and promote responsible banking practices while continuing its digital transformation to secure long-term value creation.