PAB(SZ:000001) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-25 01:16Core Insights - Ping An Bank reported a decline in both revenue and net profit for the first three quarters of 2025, with revenue at 100.67 billion yuan, down 9.8% year-on-year, and net profit at 38.34 billion yuan, down 3.5% [2] - The bank's net interest margin decreased to 1.79%, a drop of 14 basis points compared to the same period last year, influenced by lower loan rates and adjustments in business structure [2] - The bank is focusing on asset quality management, with non-performing loan (NPL) ratio at 1.05%, a slight decrease of 0.01 percentage points from the end of the previous year [2] Revenue and Profit Performance - For Q3 2025, Ping An Bank's revenue was 31.28 billion yuan, down 9.2% year-on-year, and net profit was 13.47 billion yuan, down 2.8% [2] - Non-interest income from bond investments decreased due to market fluctuations, contributing to the overall revenue decline [2] Retail Business Developments - The bank's retail business is undergoing a "retail reform," focusing on optimizing customer acquisition channels and enhancing the product system [4] - Personal loan balance as of September 30 was 1.73 trillion yuan, a decrease of 2.1% from the end of the previous year, with mortgage loans making up 63.6% of personal loans [4] - The bank's retail loan asset quality is improving, with personal loan NPL ratio at 1.24%, down 0.15 percentage points from the end of the previous year [4] Wealth Management Growth - Wealth management fees increased by 16.1% year-on-year, totaling 3.98 billion yuan, driven by significant growth in personal insurance and investment products [5] Corporate Banking Performance - Corporate banking remains a key growth driver, with corporate loan balance at 1.69 trillion yuan, up 5.1% from the end of the previous year [6] - New loans in four major industries reached 355.18 billion yuan, up 11.8% year-on-year, while emerging industries saw new loans of 185.18 billion yuan, up 17.4% [6] Risk Management in Real Estate Loans - The bank's corporate real estate loan balance is 226.99 billion yuan, down 18.23 billion yuan from the end of the previous year, with an NPL ratio of 2.20%, up 0.41 percentage points [7] - The increase in NPL ratio is attributed to external market conditions affecting the real estate sector, with the bank maintaining a cautious approach to provisioning [7]