Recently, Ping An Bank released its performance report for the first half of the year, showing that it achieved operating income of 78.328 billion yuan, a year-on-year increase of 6.5438+05.5%, and net profit of 65.438+03.678 billion yuan, a year-on-year decrease of 65.438+065.438+0.2%, mainly due to the increase in provisions.
In terms of asset quality, by the end of June 2020, the NPL ratio of Ping An Bank was 1.65%, which was the same as that at the end of last year. The NPL scale increased by 8. 1% to 465,438+03.1300 million yuan, and the provision coverage ratio was 265,438+04.93%, up by 365,438+year-on-year. At the same time, the proportion of overdue loans of banks has increased, and the non-performing rate of personal loans is high. Considering that the bank's personal loans account for more than 50%, there is still downward pressure on its asset quality.
Net profit decreased 1 1.2%
The semi-annual report shows that by the end of June 2020, Ping An Bank had total assets of 4178.622 billion yuan, an increase of 6. 1% compared with the end of last year, total liabilities of 3,827.225 billion yuan, an increase of 5.5% compared with the end of last year, and the balance of deposits absorbed was 2,486,654.38+0,265.438 million yuan, which was.
In terms of profit, in the first half of 2020, Ping An Bank achieved an operating income of 78.328 billion yuan, a year-on-year increase of 65.438+05.5%. Due to the uncertainty caused by the epidemic situation and the increase in provisions, the Bank's net profit attributable to shareholders of the company was 65.438+03.678 billion yuan, down 65.438+065.438+0.2% year-on-year.
From the perspective of operating income items, Ping An Bank's net interest income and net non-interest income maintained a relatively fast growth rate. Due to the continuous increase in credit to the real economy, the Bank's net interest income increased by 654.38+05.3% to 50.305 billion yuan, while its net non-interest income in the same period was 28.023 billion yuan, up by 654.38+05.8% year-on-year, mainly due to the increase in the bank's net non-interest income such as personal agency fund and trust plan fees and bond investment income.
Despite the strong revenue growth of Ping An Bank, due to the substantial increase in asset impairment losses, the bank's net profit still showed a double-digit decline, ranking among the listed banks that have disclosed the interim report.
The data shows that in the first half of the year, the impairment loss of credit and other assets accrued by Ping An Bank was 3849 1 billion yuan, up 465.438+0.5% year-on-year. Among them, the impairment loss of loans and advances was 32.302 billion yuan, up 36.9% year-on-year, and the credit impairment loss of creditor's rights investment was 4.952 billion yuan, up 299% year-on-year, and debt-paying assets were accrued. Before deducting the impairment losses of credit and other assets, the bank's actual operating profit was 5.6/kloc-0.50 billion yuan, a year-on-year increase of 18.9%.
Ping An Bank said that the initiative to increase the provision provision was mainly due to the uncertainty of the impact of the COVID-19 epidemic on the economy and asset quality. On the one hand, the Bank comprehensively considered external economic development, industry and regional risk changes and other factors to update and adjust the forward-looking parameters of macroeconomic forecasts. On the other hand, the Bank increased the provision for impairment of individuals and enterprises affected by the COVID-19 epidemic and industries that were greatly affected, further enhancing its risk compensation capability.
While profits are declining, the asset quality of Ping An Bank is also under pressure.
By the end of June 2020, the NPL ratio of Ping An Bank was 65,438+0.65%, which was the same as that at the end of last year. In the same period, the bank's non-performing loans expanded by 8. 1% to 4131300 million yuan, and overdue loans accounted for 2.28%, up by 0. 19 percentage points from the end of last year. The provision coverage ratio was 265,438+04.93%, up 365,438+0.85,438+0 percentage point year-on-year.
It is worth noting that the non-performing rate of personal loans of Ping An Bank has increased, and the pressure on asset quality is greater. By the end of June 2020, the NPL ratio of personal loans was 65,438+0.56%, up by 0.37 percentage points from the end of last year. Among them, credit card accounts receivable and personal business and consumer loans are the most prominent problems. The non-performing rate of credit card accounts receivable was 2.35%, up 0.69 percentage points from the end of last year, which was mainly caused by the large-scale shutdown caused by the epidemic, the decline in residents' income and the shrinking consumer demand. The NPL ratio of personal business loans, small consumer loans and other secured or pledged loans was 2.66%, down by 0.89 percentage points from the end of last year, but still at a high level.
Retail business declined sharply.
According to the semi-annual report, Ping An Bank issued loans and advances totaling 2,508.408 billion yuan in the first half of the year, an increase of 8% compared with the end of last year, including corporate loans1090.653 billion yuan, accounting for 43%, and personal loans146.5438+07.755 billion yuan, accounting for 57%.
In terms of retail business, since the new leadership headed by Xie Yonglin, Chairman of Ping An Bank, took office on 20 16, Ping An Bank has taken the pace of retail strategic transformation, and established the core strategy of "building a leading smart retail bank with retail as the core" and the 12-character policy of "technology leading, retail breakthrough and mass quality products". After three years of transformation and development, by the end of 20 19, the bank's retail business had achieved operating income of 79.973 billion yuan, up 29.23% year-on-year, accounting for 58%, and its retail business net profit was1949.3 billion yuan, up 13.8% year-on-year, accounting for 69/kloc-0.
After entering 2020, Ping An Bank further proposed new three-year strategic measures to promote the transformation and upgrading of retail business, but the interim report showed that the proportion of retail business and net profit of the bank declined.
In the first half of 2020, the balance of retail finance business of Ping An Bank was 1344749 billion yuan, accounting for 32.2% of the total assets, accounting for 0.7 percentage points lower than last year. Retail business achieved operating income of 43.353 billion yuan, up 65.438+02.33% year-on-year, accounting for 55.3% of operating income, down 65.438+0.6 percentage points year-on-year. At the same time, the bank increased the provision for retail assets, and the net profit of retail business was 7.48 billion yuan, down 30.8% compared with the same period of last year, accounting for 54.7% of the net profit, down 65,438+05.5 percentage points year-on-year.
Specifically, in the first half of 2020, Ping An Bank issued "new loans" of 4621700 million yuan. At the end of June 2020, the balance of "new loans" was 654.38+047.983 billion yuan, down 6% from the end of last year. In addition, the bank's credit card business has also experienced a certain decline. In the same period, the bank's credit card circulation reached 665,438+048.0110,000, an increase of 65,438+0.9% compared with the end of last year, and the credit card loan balance was 565,438+025.04 million yuan, a decrease of 5.2% compared with the end of last year.
Regarding the decline of retail business, Cai Xinfa, special assistant to the president of Ping An Bank, said at the performance conference that it was mainly affected by the epidemic. On the one hand, overdue and bad debts have greatly increased under the influence of the epidemic, but they are still at a medium level among peers. On the other hand, the epidemic affected the issuance of new loans. Therefore, the credit card balance and new loans did not increase significantly in the first half of this year.
In terms of public business, Ping An Bank increased its lending to entities, effectively reducing the financing cost of the real economy. In the first half of the year, the average daily balance of loans and advances issued by the bank was 2309610.70 billion yuan, up 16.5% year-on-year, and the average yield of corporate loans was 4.39%, down 69 basis points from the same period last year.
In addition, Ping An Bank continued to increase its support for small and medium-sized enterprises to help them resume work and production. The amount of loans granted by the bank to small and micro enterprises with a single credit of 6,543,800 yuan or less is 65,438+065,438+04,874 million yuan; By the end of June, 2020, the number of households with loan balance of inclusive small and micro enterprises reached 682,500, and the loan balance was 2371.1billion yuan, an increase of 7.73% compared with the end of last year, accounting for 9.5% of the bank's loan balance.