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, 2021, Ping An Bank had 109 branches, including Hong Kong, and 1,177 business outlets.
In the retail business, Ping An Bank has implemented a “five-in-one” model of a comprehensive bank, AI bank, remote bank, offline bank, and open bank. The bank aims to improve efficiency in data management, operations and customer experience and to strengthen the ecosystem strategy. As of December 31, 2021, there were nearly 135 million registered users of the Ping An Pocket Bank app, with more than 48 million monthly active users.
Ping An Bank continues to enhance its open platform, covering all categories of products, and promotes business innovation. As of the end of December 2021, retail assets under management were RMB3.18 trillion, an increase of 21.3% from the beginning of 2021; and revenue from retail banking reached RMB98.24 billion, accounting for 58% of Ping An Bank’s total revenue.
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, 2021, the balance of corporate loans grew 8.6% from the beginning of 2021 and corporate deposits grew 10.2%.
Ping An Bank focuses on business innovation in five key areas: supply chain finance, bill integration, customer development, platforms, sophisticated investment and financing, and ecosystem-based cross-selling.
In ecosystem-based cross-selling, insurance premiums referred by Ping An Bank rose 20.7% year-on-year to RMB3,259 million in 2021. Financing projects referred by Ping An Bank to other member companies of the Group grew 16.8% year-on-year to RMB473,407 million.