PAB(SZ:000001)2024-09-19 09:32Group 1: Strategic Direction and Business Performance - Ping An Bank adheres to the strategy of "strengthening retail, refining corporate, and specializing in interbank" and has achieved expected results in its current reform efforts [2] - As of June 2024, the non-performing loan ratio for personal loans is 1.42%, an increase of 0.05 percentage points from the end of the previous year [2] - The bank aims for high-quality and sustainable development in retail business, focusing on "adjusting structure, improving quality, and increasing efficiency" [2] Group 2: Financial Performance and Projections - In the first half of 2024, Ping An Bank achieved a net profit of 259 billion RMB, a year-on-year increase of 1.9% [2] - The bank plans to distribute cash dividends of 2.46 RMB per 10 shares, totaling 4,774 million RMB, which accounts for 20.0% of the net profit attributable to ordinary shareholders [4] - The corporate loan balance reached 15,921.39 billion RMB, growing by 11.4% compared to the end of the previous year [4] Group 3: Risk Management and Asset Quality - The non-performing loan ratio for corporate real estate loans is 1.26%, an increase of 0.40 percentage points from the end of the previous year, but remains at a low level [4] - The bank emphasizes risk prevention and quality control in real estate lending, supporting various housing projects while ensuring compliance with central policies [4] Group 4: Interest Margin and Cost Management - The net interest margin for the first half of 2024 is 1.96%, down 59 basis points from the same period last year [4] - The bank is actively optimizing its liability structure to mitigate the impact of declining net interest margins, focusing on expanding deposit sources and improving cost management [4] - The bank anticipates further downward pressure on net interest margins due to market interest rate declines and insufficient effective credit demand [4]