Zhongtong Financial APP News, Ping An Insurance (02318) announced the third-quarter performance of Ping An Bank in 2024, with operating income of 34.45 billion yuan, a decrease of 11.7% year-on-year; net income attributable to the bank's shareholders was 13.85 billion yuan, a decrease of 2.8% year-on-year; and earnings per share were 0.71 yuan.

From January to September, the operating income was 111.582 billion yuan, a decrease of 12.6% year-on-year; net income attributable to the bank's shareholders was 39.729 billion yuan, an increase of 0.2% year-on-year; and earnings per share were 1.94 yuan.

Actively adjusting the business structure, continuously supporting the real economy. By the end of September 2024, Ping An Bank Co., Ltd. and its wholly-owned subsidiary Ping An Wealth Management Co., Ltd. total assets amounted to 5745.988 billion yuan, an increase of 2.8% over the previous year-end.

Strengthening comprehensive risk management, maintaining good risk offsetting capabilities. The bank actively responds to changes in the macroeconomic environment, strengthens asset quality control, and promotes risk prevention and mitigation. At the end of September 2024, the non-performing loan ratio was 1.06%, unchanged from the previous year-end; the deviation degree of loans overdue for more than 60 days and over 90 days were 0.83 and 0.62 respectively; the provision coverage ratio was 251.19%, and the risk offsetting capacity remained good.

Practicing refined management, increasing the core Tier 1 capital adequacy ratio. The bank continues to strengthen its ability for internal capital accumulation, enhance the level of refined capital management. By the end of September 2024, Ping An Bank Co., Ltd. and its wholly-owned subsidiary Ping An Wealth Management Co., Ltd. core Tier 1 capital adequacy ratio rose to 9.33%, meeting regulatory requirements for all capital adequacy ratios.