Summary by Futu AI
China Ping'an Insurance (Group) Co., Ltd. (“Ping'an China”) announced on 14 March 2024 a summary of the annual report of Ping'an Bank, its flagship holding subsidiary, Ping'an Bank. The summary of the report is published on the website of the Shanghai Stock Exchange and the website of the Shenzhen Stock Exchange. Ping An Bank achieved operating revenue of USD 1646.9 billion in 2023, down 8.4% from the previous year, and net profit attributable to the Bank's shareholders amounted to USD 464.55 million, an increase of 2.1% year-on-year. The cost-income ratio was 27.90%, up 0.45 percentage points from the previous year. Binh An Bank's bad loan rate is 1.06%, slightly up 0.01 percentage points from the previous year. In addition, Ping An Bank announced that it will distribute a cash dividend of RMB7.19 per 10 shares to all shareholders. The summary of the annual report has been audited by the EY Accounting Office (Special General Partnership) and has produced standard unreserved audit reports.