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    Business / Corporate Reports

    Ping An bank net profit up by 13.64%

    By HE WEI in Shanghai (chinadaily.com.cn) Updated: 2014-03-07 17:04

    Ping An bank net profit up by 13.64% 

    Ping An Bank reported net profit for 2013 was up by 13.64 percent, according to its annual report published on Thursday.?[Photo by Zhen Huai/ Asianewsphoto]

    Ping An Bank, the banking business of the world's second-largest insurer by market capitalization, reported net profit for 2013 was up by 13.64 percent, according to its annual report published on Thursday.

    Ping An bank net profit up by 13.64%

    Pleasant Internet and Big Big Banks 

    Net profit grew to 15.23 billion yuan ($2.49 billion), which the lender attributed to rapid business expansion, higher pricing powers and stable asset quality.

    Income from net interest spread grew 23.16 percent to 40.7 billion yuan, accounting for 77.96 percent of total revenue. The bad loan ratio was lowered to 0.89 percent, down 0.06 percentage points from the beginning of 2013.

    The report also said that for every 10 shares of Ping An Bank, the cash dividend will be 2.4 yuan including tax.

    Ping An Bank is among a few financial institutions that have turned to shorter-term and more volatile wealth management and trust products to attract depositors.

    Chinese banks' profits to slip further in 2014

    China Merchants Bank's profit growth slows

    Chinese commercial bank profits up in 2013

    Pudong Development Bank earns $6.7b profit

    Bank profit growth set to fall, official says

    Profits at Bank of Communications up 9%

    Bank of China's profit rises 13%

    China Everbright Bank's profit up 13.87%

    Banks rake in profits

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