Ping An Bank has seen a sizeable increase in its net profits since the start of 2019 amidst efforts to brand itself as a leading fintech lender.
Ping An Bank’s third quarter report submitted to the Shenzhen Stock Exchange on 21 October indicates that it achieved operating revenues of 102.958 billion yuan in the first three quarters of 2019, for a YoY rise of 18.8%.
Net profits were 23.621 billion yuan, for a YoY rise of 15.5%.
As of the end of September the bank’s total profits were 3.71 trillion yuan, for a rise of 8.5% compared to the end of last year.
Ping An Bank’s deposit balance was 2.29 trillion yuan, for an increase of 7.6% compared to the end of 2018.
According to Ping An Bank it is comprehensively driving the establishment of an “AI Bank” system, and continuing to expand its support for private enterprise and micro and small enterprises.