The mission of Ping An Bank is to build China’s most outstanding, world-leading smart retail bank, with technology-driven breakthroughs in retail banking and corporate banking.
The bank continues to pursue data-driven operations and strengthen financial risk management. Ping An Bank has enhanced its capability to serve the real economy by empowering non-state-owned enterprises and small and micro-businesses as well as supporting poverty alleviation via financial services.
Ping An Bank continues to develop its smart retail bank branches and improve its geographic distribution. As of December 31, 2022, Ping An Bank (excluding Ping An Wealth Management) had 109 branches and 1,191 business outlets.
Ping An Bank maintained stable, healthy business growth. Revenue and net profit for 2022 grew 6.2% and 25.3% year on year respectively.
By leveraging integrated finance and technological empowerment, Ping An Bank builds “Smart Bank 3.0” under a new retail transformation model of an “open bank, AI bank, remote bank, offline bank, and comprehensive bank.” Integrated finance contributed steadily to Ping An Bank’s retail business in 2022 as the bank innovated and upgraded its online integrated finance operations model. As of December 31, 2021, there were more than 152 million registered users of the Ping An Pocket Bank app, with more than 50 million monthly active users.
Ping An Bank maintained steady development of retail business. As of the end of December 2021, retail assets under management rose 12.7% from the beginning of 2022 to RMB3,587,274 million, and retail deposit balance rose 34.3% from the beginning of 2022 to exceed RMB1 trillion.
Ping An Bank has grown its corporate banking business steadily through accelerated data-driven operations. It is leveraging the Group’s technologies, including AI, blockchain, and the Internet of Things (IoT). As of December 31, 2022, Ping An Bank’s supply chain financing reach RMB 1,168 billion in 2022, up 21.7% year on year. Cumulative registered business users of “Ping An Bank Digital Pocket” increased 63.4% from the beginning of 2022 to approximately 13 million. The corporate open bank served 50,968 corporate customers, up 68.2% from the beginning of the 2022.