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Ping An Bank

Ping An's net profit rose 17.4% yoy to CNY 7,957 mil in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank made a net profit of CNY 7,957 mil under revenues of CNY 37,529 mil in the second quarter of 2019, up 17.4% and ...

Ping An's market capitalisation (end of period) rose 8.04% to USD 30,296 mil in 2Q2019

By Helgi Library - October 23, 2019

Ping An Bank stock traded at JPY 1,645 per share at the end of second quarter of 2019 implying a market capitalization of USD 3,477 ...

Ping An's customer deposits rose 10.9% yoy to CNY 1,914,860 mil in 4Q2016

By Helgi Library - October 11, 2019

Ping An Bank's customer deposits reached CNY 1,914,860 mil in 2016-12-31, up 0.104% compared to the previous year. Chinese bank...

Annual Quarterly LTM
Profit Statement Dec 2018 Mar 2019 Jun 2019
Net Interest Income CNY mil 20,216 20,774 22,865
Net Fee Income CNY mil 7,592 9,560 8,831
Other Income CNY mil 5,895 4,149 5,833
Total Revenues CNY mil 33,703 34,483 37,529
Operating Profit CNY mil 19,316 24,559 23,256
Provisions CNY mil 10,035 12,885 10,712
Net Profit CNY mil 4,362 7,446 7,957
Balance Sheet Dec 2018 Mar 2019 Jun 2019
Interbank Loans CNY mil 195,017 214,477 196,106
Customer Loans CNY mil 1,949,760 1,997,320 2,024,870
Total Assets CNY mil 3,418,590 3,530,180 3,590,770
Shareholders' Equity CNY mil 240,042 250,938 256,603
Interbank Borrowing CNY mil 883,792 505,787 777,246
Customer Deposits CNY mil 2,125,670 2,308,780 2,340,980
Issued Debt Securities CNY mil 81,755 401,758 117,963
Ratios Dec 2018 Mar 2019 Jun 2019
ROE % 7.34 12.1 12.5
ROA % 0.515 0.857 0.894
Costs (As % Of Assets) % 1.70 1.14 1.60
Costs (As % Of Income) % 42.7 28.8 38.0
Capital Adequacy Ratio % 11.5 11.5 12.6
Net Interest Margin % 2.39 2.39 2.57
Loans (As % Of Deposits) % 91.7 86.5 86.5
NPLs (As % Of Loans) % 3.40 2.97 3.21
Provisions (As % Of NPLs) % 1,205 1,390 1,301
Valuation Dec 2018 Mar 2019 Jun 2019
Price/Earnings (P/E) 7.39 10.0 10.0
Price/Book Value (P/BV) 0.764 1.03 1.05
Dividend Yield % 0 0 0
Earnings Per Share (EPS) CNY 1.45 1.49 1.56
Book Value Per Share CNY 14.0 14.6 14.9
Dividend Per Share CNY 0 0 0

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summary Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
income statement                                                                                
Net Interest Income CNY mil ... ...                                                               18,527 18,687 18,749 17,093 20,216    
Total Revenues CNY mil ... ...                                                               26,400 29,335 30,143 31,511 33,703    
Operating Profit CNY mil ... ...                                                               15,775 20,564 21,435 22,624 19,316    
Net Profit CNY mil ... ...                                                               4,036 6,595 6,777 7,084 4,362    
balance sheet                                                                                
Interbank Loans CNY mil                                                                   231,157 276,041 255,453 216,174 195,017    
Customer Loans CNY mil                                                                   1,660,420 1,721,100 1,794,210 1,867,600 1,949,760    
Debt Securities CNY mil                                                                   894,712 182,828 223,310 227,097 207,316    
Total Assets CNY mil                                                                   3,248,470 3,338,570 3,367,400 3,352,060 3,418,590    
Shareholders' Equity CNY mil                                                                   222,054 223,391 228,141 235,231 240,042    
Interbank Borrowing CNY mil                                                                   893,315 623,445 926,855 572,001 883,792    
Customer Deposits CNY mil                                                                   1,982,590 2,034,490 2,062,870 2,134,640 2,125,670    
Issued Debt Securities CNY mil                                                                   45,116 357,968 45,116 321,452 81,755    
ratios                                                                                
ROE % ... ...                                                               7.34 11.8 12.0 12.2 7.34    
ROA % ... ...                                                               0.506 0.801 0.808 0.843 0.515    
Costs (As % Of Assets) % ... ...                                                               1.33 1.07 1.04 1.06 1.70    
Costs (As % Of Income) % ... ...                                                               40.2 29.9 28.9 28.2 42.7    
Capital Adequacy Ratio % ... ...                                                               11.2 11.4 11.6 11.7 11.5    
Net Interest Margin % ... ...                                                               2.32 2.27 2.24 2.04 2.39    
Interest Income (As % Of Revenues) % ... ...                                                               70.2 63.7 62.2 54.2 60.0    
Fee Income (As % Of Revenues) % ... ...                                                               28.5 29.3 31.0 18.3 22.5    
Equity (As % Of Assets) %                                                                   6.84 6.69 6.77 7.02 7.02    
Loans (As % Of Deposits) %                                                                   83.8 84.6 87.0 87.5 91.7    
Loans (As % Assets) %                                                                   51.1 51.6 53.3 55.7 57.0    
NPLs (As % Of Loans) %                                                                   4.00 3.21 3.53 2.98 3.40    
Provisions (As % Of NPLs) %                                                             ...     894 ... 1,094 1,330 1,205    
valuation                                                                                
Market Capitalisation (End Of Period) USD mil ... ...                                                               29,240 23,842 19,883 24,231 20,569    
Number Of Shares (Average) mil ... ...                                                               17,170 17,170 17,170 17,170 17,170    
Share Price (End Of Period) HKD ... ...                                                               13.3 10.9 9.09 11.1 9.38    
Earnings Per Share (EPS) CNY ... ...                                                               1.35 1.37 1.40 1.43 1.45    
Book Value Per Share CNY ... ...                                                               12.9 13.0 13.3 13.7 14.0    
Dividend Per Share CNY ... ...                                                               0 0 0 0 0    
Price/Earnings (P/E) ... ...                                                               11.8 9.91 7.71 8.83 7.39    
Price/Book Value (P/BV) ... ...                                                               1.23 1.05 0.811 0.919 0.764    
Dividend Yield % ... ...                                                               0 0 0 0 0    
Earnings Per Share Growth % ... ... ... ... ... ...                                                       2.61 3.71 5.01 6.33 7.02    
Book Value Per Share Growth % ... ... ... ... ... ...                                                       9.83 7.53 7.89 7.85 8.10    
income statement Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
income statement                                                                                
Interest Income CNY mil ... ...                                                               39,193 40,944 41,064 39,653 41,227    
Interest Cost CNY mil ... ...                                                               20,666 22,257 22,315 22,560 21,011    
Net Interest Income CNY mil ... ...                                                               18,527 18,687 18,749 17,093 20,216    
Net Fee Income CNY mil ... ...                                                               7,513 8,594 9,345 5,766 7,592    
Other Income CNY mil ... ...                                                               360 2,054 2,049 8,652 5,895    
Total Revenues CNY mil ... ...                                                               26,400 29,335 30,143 31,511 33,703    
Operating Cost CNY mil ... ...                                                               10,625 8,771 8,708 8,887 14,387    
Operating Profit CNY mil ... ...                                                               15,775 20,564 21,435 22,624 19,316    
Provisions CNY mil ... ...                                                               8,843 10,671 11,627 11,324 10,035    
Extra and Other Cost CNY mil ... ...                                                               1,714 1,326 1,008 2,101 3,616    
Pre-Tax Profit CNY mil ... ...                                                               5,218 8,567 8,800 9,199 5,665    
Tax CNY mil ... ...                                                               1,182 1,972 2,023 2,115 1,303    
Minorities CNY mil ... ...                     ... ... ... ... ... ...                               0 0 0 0 0    
Net Profit CNY mil ... ...                                                               4,036 6,595 6,777 7,084 4,362    
growth rates                                                                                
Net Interest Income Growth % ... ... ... ... ... ...                                                       -5.57 -0.965 1.39 -5.67 9.12    
Net Fee Income Growth % ... ... ... ... ... ...                                                       27.0 5.45 23.0 -22.2 1.05    
Total Revenue Growth % ... ... ... ... ... ...                                                       0.178 2.26 12.5 16.2 27.7    
Operating Cost Growth % ... ... ... ... ... ...                                                       90.9 24.4 27.3 9.39 35.4    
Operating Profit Growth % ... ... ... ... ... ...                                                       -24.1 -4.96 7.40 19.1 22.4    
Pre-Tax Profit Growth % ... ... ... ... ... ...                                                       -2.92 4.09 7.29 8.13 8.57    
Net Profit Growth % ... ... ... ... ... ...                                                       4.02 6.13 6.89 7.35 8.08    
balance sheet Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
balance sheet                                                                                
Cash CNY mil                                                                   310,212 281,949 307,400 287,648 278,528    
Interbank Loans CNY mil                                                                   231,157 276,041 255,453 216,174 195,017    
Customer Loans CNY mil                                                                   1,660,420 1,721,100 1,794,210 1,867,600 1,949,760    
Retail Loans CNY mil                                                                   849,035 928,682 998,926 1,082,060 1,154,010    
Mortgage Loans CNY mil                                                                   152,865 162,294 171,722 177,950 182,363    
Consumer Loans CNY mil                                                                   696,170 766,388 827,204 904,113 971,650    
Corporate Loans CNY mil                                                                   855,195 843,846 849,767 839,984 843,516    
Debt Securities CNY mil                                                                   894,712 182,828 223,310 227,097 207,316    
Fixed Assets CNY mil                                                                   22,177 20,031 21,891 21,664 23,976    
Total Assets CNY mil                                                                   3,248,470 3,338,570 3,367,400 3,352,060 3,418,590    
Shareholders' Equity CNY mil                                                                   222,054 223,391 228,141 235,231 240,042    
Of Which Minority Interest CNY mil                                                                   0 0 0 0 0    
Liabilities CNY mil                                                                   3,026,420 3,115,180 3,139,260 3,116,820 3,178,550    
Interbank Borrowing CNY mil                                                                   893,315 623,445 926,855 572,001 883,792    
Customer Deposits CNY mil                                                                   1,982,590 2,034,490 2,062,870 2,134,640 2,125,670    
Sight Deposits CNY mil ...                                                                 757,599 721,710 685,820 696,340 706,859    
Term Deposits CNY mil ...                                                                 1,224,990 1,312,780 1,377,050 1,438,300 1,418,810    
Issued Debt Securities CNY mil                                                                   45,116 357,968 45,116 321,452 81,755    
Other Liabilities CNY mil                                                                   105,397 99,274 104,420 88,731 87,333    
asset quality                                                                                
Non-Performing Loans CNY mil                                                                   33,949 29,788 35,264 32,245 39,272    
Gross Loans CNY mil                                                                   849,035 928,682 998,926 1,082,060 1,154,010    
Total Provisions CNY mil                                                             ...     303,628 ... 385,733 428,843 473,295    
growth rates                                                                                
Customer Loan Growth % ... ... ... ...                                                           15.6 14.4 15.8 16.5 17.4    
Retail Loan Growth % ... ... ... ...                                                           57.0 58.7 52.0 44.8 35.9    
Mortgage Loan Growth % ... ... ... ...                                                           79.4 54.8 38.0 31.0 19.3    
Consumer Loan Growth % ... ... ... ...                                                           52.8 59.6 55.3 47.9 39.6    
Corporate Loan Growth % ... ... ... ...                                                           -8.52 -12.4 -9.33 -6.64 -1.37    
Total Asset Growth % ... ... ... ...                                                           9.99 11.1 8.90 6.84 5.24    
Shareholders' Equity Growth % ... ... ... ...                                                           9.83 7.53 7.89 7.85 8.10    
Customer Deposit Growth % ... ... ... ...                                                           3.54 6.40 8.06 11.7 7.22    
market share                                                                                
Market Share in Customer Loans %                                                                   1.29 1.29 1.31 1.31 1.34   ...
Market Share in Total Assets % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 ... ... ... ... ... ... ... ... ... ...
Market Share in Customer Deposits % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 ... ... ... ... ... ... ... ... ... ...
ratios Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
ratios                                                                                
ROE % ... ...                                                               7.34 11.8 12.0 12.2 7.34    
ROA % ... ...                                                               0.506 0.801 0.808 0.843 0.515    
Costs (As % Of Assets) % ... ...                                                               1.33 1.07 1.04 1.06 1.70    
Costs (As % Of Income) % ... ...                                                               40.2 29.9 28.9 28.2 42.7    
Capital Adequacy Ratio % ... ...                                                               11.2 11.4 11.6 11.7 11.5    
Tier 1 Ratio % ... ...                                                               9.18 9.08 9.22 9.41 9.39    
Net Interest Margin % ... ...                                                               2.32 2.27 2.24 2.04 2.39    
Interest Spread % ... ...                                                               2.13 2.07 2.04 1.84 2.20    
Asset Yield % ... ...                                                               4.91 4.97 4.90 4.72 4.87    
Cost Of Liabilities % ... ...                                                               2.78 2.90 2.85 2.88 2.67    
Payout Ratio % ... ...                                                               0 0 0 0 0    
Interest Income (As % Of Revenues) % ... ...                                                               70.2 63.7 62.2 54.2 60.0    
Fee Income (As % Of Revenues) % ... ...                                                               28.5 29.3 31.0 18.3 22.5    
Other Income (As % Of Revenues) % ... ...                                                               1.36 7.00 6.80 27.5 17.5    
Equity (As % Of Assets) %                                                                   6.84 6.69 6.77 7.02 7.02    
Loans (As % Of Deposits) %                                                                   83.8 84.6 87.0 87.5 91.7    
Loans (As % Assets) %                                                                   51.1 51.6 53.3 55.7 57.0    
NPLs (As % Of Loans) %                                                                   4.00 3.21 3.53 2.98 3.40    
Provisions (As % Of NPLs) %                                                             ...     894 ... 1,094 1,330 1,205    
Provisions (As % Of Loans) %                                                             ...     18.3 ... 21.5 23.0 24.3    
Cost of Provisions (As % Of Loans) % ... ...                                                               2.17 2.52 2.65 2.47 2.10    
other data Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
other data                                                                                
Employees ...                                                                 32,502 32,623 32,744 33,685 34,626    
Sight (As % Of Customer Deposits) % ...                                                                 38.2 35.5 33.2 32.6 33.3    
On-balance Sheet Loans RMB mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                                 1,660,420 1,721,100 1,794,210 1,867,600 1,949,760    

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Ping An's share price (end of period) rose 51.6% yoy to HKD 13.8 in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank stock traded at HKD 13.8 per share at the end of second quarter of 2019 implying a market capitalization of USD 30,296 mil. Over the last five years, the stock has appreciated by 100 % implying an annual average growth of 14.9 %. In absolute terms, the va...

Ping An's capital adequacy ratio rose 8.89% yoy to 12.6% in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank's capital adequacy ratio reached 12.6% at the end of second quarter of 2019, up from 11.5% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 12.6% in 2Q2019 and an all time low of 8.66% in 1Q2010. ...

Ping An's npls (as % of loans) fell 9.20% yoy to 3.21% in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank's non-performing loans reached 3.21% of total loans at the end of 2019-06-30, down from 3.53% compared to the previous year. Historically, the NPL ratio hit an all time high of 5.53% in 2016-12-31 and an all time low of 1.37% in 2011-09-30. Pro...

Ping An's corporate loans rose 0.850% yoy to CNY 856,988 mil in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank's loans reached CNY 1,224,910 mil in the second quarter of 2019, up from CNY 1,190,530 mil when compared to the previous quarter and up from CNY 998,926 mil when compared to the same period of last year. Historically, the bank’s loans r...

Ping An's net interest margin rose 14.8% yoy to 2.57% in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank's net interest margin amounted to 2.57% in the second quarter of 2019, up from 2.39% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.94% in 1Q2016 and an all time low of 2.04...

Ping An's price/earnings (P/E) rose 29.9% yoy to 10.0 in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank stock traded at HKD 13.8 per share at the end second quarter of 2019 implying a market capitalization of USD 30,296 mil. Since the end of 2Q2014, the stock has appreciated by 100 % implying an annual average growth of 14.9 %. In absolute terms, the value ...

Ping An's net interest income rose 22.0% yoy to CNY 22,865 mil in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank generated total banking revenues of CNY 37,529 mil in the second quarter of 2019, up 24.5% when compared to the same period of last year and 8.83% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

Ping An's equity (as % of assets) rose 5.48% yoy to 7.15% in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank's Equity reached 4.91% of total assets in the 2Q2019, up from 4.86% for the previous year. As a share of net customer loans, the ratio amounted to 10.9% at the end of the second quarter of 2019. ...

Ping An's retail loan growth fell 56.5% yoy to 22.6% in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank's retail loans reached CNY 1,224,910 mil at the end of 2019-06-30, up 2.89% compared to the previous year. In the last decade, the average annual loan growth amounted to 0%. Overall, retail loans accounted for 60.5% of the bank's loan book at t...

Ping An's customer loan growth fell 18.8% yoy to 12.9% in 2Q2019

By Helgi Library - October 11, 2019

Ping An Bank's customer loan growth reached 12.9% in 2019-06-30, down from 15.8% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 54.0% in 2012-03-31 and an all time low of 10.0% in 2010-09-30. In the last d...

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Finance

Ping An Bank has been growing its revenues and asset by 8.21% and 10.9% a year on average in the last 3 years. Its loans and deposits have grown by 18.0% and 7.17% a year during that time and loans to deposits ratio reached 91.7% at the end of 2018. The company achieved an average return on equity of 11.4% in the last three years with net profit growing 4.31% a year on average. In terms of operating efficiency, its cost to income ratio reached 32.7% in 2018, compared to 30.4% average in the last three years.

Equity represented 7.02% of total assets or 12.3% of loans at the end of 2018. Ping An Bank's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2018.

Valuation

Ping An Bank stock traded at HKD 9.38 per share at the end of 2018 resulting in a market capitalization of USD 20,569 mil. Over the previous five years, stock price rose by 13.9% or 2.64% a year on average. That’s compared to an average ROE of 13.1% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 7.39x and price to book value (PBV) of 0.764x in 2018.

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