平安银行如何度过“最难一年”

Core Viewpoint - Ping An Bank's President Ji Guangheng has labeled 2025 as the "most difficult year" for the bank, highlighting significant challenges in its retail business transformation and overall profitability [1][4]. Financial Performance - In the first half of the year, Ping An Bank reported revenue of 69.385 billion yuan and net profit attributable to shareholders of 24.870 billion yuan, representing year-on-year declines of 10% and 3.9%, respectively [1]. - The decline in profit was less severe than revenue due to a 9.4% reduction in business and management expenses and a 16.27% decrease in credit impairment losses [1]. Retail Business Transformation - The bank's current contraction is a result of a rigorous restructuring of its retail business, initiated in 2016, which has led to a significant drop in profit contribution from retail operations, from over 70% in 2019 to less than 1% [2]. - 2025 is identified as a critical year for the bank's retail reform, with ongoing adjustments to credit risk and a focus on safeguarding existing assets [3]. Asset Quality Improvement - Ping An Bank has made progress in improving retail asset quality, with the retail non-performing loan (NPL) ratio decreasing by 0.12 percentage points to 1.27% in the first half of the year [5]. - The bank's credit card NPL ratio also improved, dropping by 0.26 percentage points to 2.3% [5]. Strategic Focus - The bank aims to transition from high-risk, high-return products to a more balanced portfolio of medium-risk, medium-return offerings [7]. - The bank's strategy includes enhancing its wealth management business, which has shown signs of recovery, contributing to its overall financial health [4][20]. Challenges Ahead - Despite improvements, the bank's ability to generate profits remains a concern, with retail business net profit contribution at only 4% in the first half of the year [6]. - The bank's credit impairment losses have been decreasing for three consecutive years, but the declining provision coverage ratio indicates limited room for profit adjustment [10][11]. Future Outlook - Ping An Bank's long-term goal is to become a leading intelligent retail bank in China, but it currently faces significant challenges in achieving this vision [17]. - The bank plans to maintain a competitive net interest margin and improve its asset quality while expanding its wealth management services to support future growth [19][21].