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PING AN BANK CO., LTD.

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Ping An Bank's 3Q Net Profit Rose 6.1%

10/21/2020 | 09:15pm EDT

By Martin Mou

Ping An Bank Co.'s third-quarter net profit rose 6.1% from a year earlier, supported by moderate increases in net interest income as well as fees and commissions.

Net profit was 8.72 billion yuan ($1.31 billion). Operating income grew 8.8% from a year earlier to CNY38.24 billion, the Chinese lender said late Wednesday.

The bank's non-performing loan ratio dropped to 1.32% at the end of September compared with 1.65% at the end of 2019, it said.

Net profit for January-September slipped 5.2% to CNY22.4 billion partly due to the Covid-19 pandemic, said Ping An Bank, a unit of Ping An Insurance (Group) Co. of China Ltd.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

10-21-20 2114ET

Stocks mentioned in the article
ChangeLast1st jan.
PING AN BANK CO., LTD. -0.26% 23.08 End-of-day quote.19.34%
PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD. -0.39% 77.35 End-of-day quote.-18.58%
PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD. 0.21% 65.96 End-of-day quote.-24.17%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.03% 6.47355 Delayed Quote.-0.30%
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Financials
Sales 2021 173 B 26 823 M 26 823 M
Net income 2021 33 731 M 5 215 M 5 215 M
Net Debt 2021 - - -
P/E ratio 2021 13,4x
Yield 2021 1,03%
Capitalization 448 B 69 180 M 69 244 M
Capi. / Sales 2021 2,58x
Capi. / Sales 2022 2,31x
Nbr of Employees 36 115
Free-Float 40,3%
Chart PING AN BANK CO., LTD.
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Ping An Bank Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends PING AN BANK CO., LTD.
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 25
Last Close Price 23,08 CNY
Average target price 27,98 CNY
Spread / Average Target 21,2%
EPS Revisions
Managers and Directors
NameTitle
Yue Fei Hu President, General Manager & Executive Director
You Zhi Xiang Chief Financial Officer, Executive Director & VP
Wei Qiu Chairman-Supervisory Board
Yong Lin Xie Chairman
Ru Sheng Yang Independent Director