Ping An Insurance (02318.HK) announced the performance of its subsidiary Ping An Bank (000001.SZ) for the first nine months ending in September. The revenue achieved was 111.582 billion RMB, a year-on-year decrease of 12.6%. Net profit attributable to shareholders was 39.729 billion yuan, a slight increase of 0.2%, with an EPS of 1.94 yuan.

In the third quarter alone, the revenue reached 34.45 billion yuan, a decrease of 11.7%. Net profit attributable to shareholders was 13.85 billion yuan, a decrease of 2.8%, with an EPS of 0.71 yuan. During the quarter, the net interest margin narrowed from 1.91% in the second quarter to 1.87%. As of the end of September, the non-performing loan ratio was 1.06%, unchanged from the beginning of the year. Provision coverage ratio was 251.19%, loan loss reserve ratio was 2.67%, and the risk buffering capacity remained good.