21解读丨平安银行零售“止血”“造血”进行时

Core Viewpoint - Ping An Bank is undergoing a challenging transformation in its retail business, with management acknowledging that while the "bleeding has stopped," the process of "blood production" will take time [2][3]. Financial Performance - In 2024, Ping An Bank reported a revenue of 146.695 billion yuan, a year-on-year decrease of 10.9%, and a net profit of 44.508 billion yuan, down 4.2% [2]. - The bank's retail financial business revenue proportion fell to 48.6%, while the wholesale financial business revenue proportion increased by 11% to 43.5% [4]. Retail Business Adjustments - The bank's retail loan scale is showing signs of a turning point, with a significant reduction in the first quarter of 2024, but a narrowing decline to around 20 billion yuan by the fourth quarter [4]. - The proportion of high-risk loans has decreased, with the share of mortgage loans rising by 4.0 percentage points to 62.8% [4][5]. Asset Quality Management - The non-performing loan (NPL) ratio for retail loans remained stable at 1.39%, with a year-on-year decrease in the NPL generation rate to 1.80% [2][5]. - Credit card loans have seen a reduction in both NPL scale and ratio, with the NPL ratio decreasing by 0.21 percentage points [5]. Strategic Measures for Transformation - Ping An Bank is focusing on enhancing its customer acquisition and operational capabilities, restructuring its loan product offerings to include more mortgage and new energy vehicle loans [6][7]. - The bank is also working on developing mid-risk, mid-return products to improve market competitiveness and customer retention [9][10]. Leadership and Organizational Changes - Recent personnel adjustments have been made to strengthen the retail reform efforts, with a focus on integrating younger talent into leadership roles [8][6]. - The bank emphasizes the importance of balancing corporate and retail business development, ensuring that both segments contribute to overall growth [8].