Ping An Bank President Ji Guangheng: Return to growth by 2026

Reporter Qin Yufang, Shenzhen reports

Ping An Bank released its 2025 performance report, indicating that in the face of a low interest rate, low spread, and low yield industry environment, the bank completed fundamental adjustments in 2025, with several core indicators showing positive trends. Ping An Bank Party Secretary and President Ji Guangheng pointed out at the performance press conference that after two and a half years of strategic reform, the most difficult period for Ping An Bank has passed, the performance bottoming out is basically complete, and there is full confidence in achieving “return to growth” in 2026.

Performance bottoming out is basically complete

In 2025, affected by multiple factors such as low market interest rates, continuous concessions to the real economy, and proactive adjustments to business structure, Ping An Bank achieved an operating income of 131.442 billion yuan, a year-on-year decrease of 10.4%; and a net profit of 42.633 billion yuan, a year-on-year decrease of 4.2%.

Despite operational pressures, with the deepening of strategic reforms, some operational indicators have shown positive trends. Specifically, on the asset side, the structure has been further optimized. As of the end of 2025, the corporate loan balance was 1.66 trillion yuan, a 3.5% increase from the end of 2024, especially with good growth in loans to technology companies and green finance; the retail loan balance was 1.73 trillion yuan, gradually stabilizing, with continuous optimization of customer structure and asset structure. On the liability side, the annual report shows that in 2025, Ping An Bank’s average interest rate on deposits was 1.65%, a decrease of 42 basis points from 2024; the net interest margin was 1.78%, a decrease of 9 basis points from 2024, with the decline noticeably slowing down.

Ji Guangheng stated at the performance press conference that since starting strategic reforms in the second half of 2023, Ping An Bank has adhered to “a blueprint drawn to the end,” on the basis of insisting on the strategy of “strengthening retail, refining corporate business, and specializing in interbank business,” actively reducing high-risk retail assets, and promoting balanced development of corporate business. “In terms of the overall progress of the reform, I personally believe that more than 70% has been completed, and the subsequent work is more about continuous refinement and steady promotion.” Ji Guangheng stated, “We need to gradually digest historical legacy issues while forming new development momentum.”

Ping An Bank Vice President Xiang Youzhi further emphasized that as high-risk assets are gradually cleared, the generation of retail non-performing loans has confirmed a turning point, with trends continuing to improve.

Initial signs of a turning point in retail business

From the performance indicators of the retail business, as of the end of 2025, the personal loan balance of Ping An Bank decreased by 2.3% compared to the end of 2024, but the decline narrowed by 8.3 percentage points compared to 2024.

Ping An Bank Assistant President Wang Jun revealed that the non-performing loan ratio of personal loans in 2025 decreased by 0.16 percentage points compared to the end of 2024, and the loan scale has stabilized, with proactive adjustments nearing completion and high-risk assets basically cleared. At the same time, economic benefits are also significantly improving. “In 2025, retail business operating income decreased by 13.5% year-on-year, but the decline narrowed significantly by 12.4 percentage points compared to 2024, and retail net profit achieved restorative growth.”

Wang Jun stated that after two years of proactive adjustments, the retail business has emerged from its most difficult period, and “the turning point of retail business has preliminarily emerged, with a gradual establishment of development trends.”

Ji Guangheng also pointed out that from the operating conditions in the second half of 2025, especially in the fourth quarter, the results of the reforms have gradually become evident. “The scale of retail credit has stabilized since the second half of last year, credit card business has stabilized in parts, and mortgage and auto financing balances have increased compared to the end of 2024.” He emphasized that the adjustment of the retail business is basically complete, and “the dawn is beginning to appear.”

Aiming for a return to growth in 2026

Looking ahead to 2026, Ji Guangheng stated that Ping An Bank will focus on the goal of “focusing on operations, implementing collaboration, and returning to growth,” and will make every effort to promote stable recovery of performance. “From the operating situation in the first two months of this year, major indicators have basically stabilized. We will accelerate credit issuance, stabilize deposit scale, and promote a positive cycle of ‘volume, price, and risk,’ striving to stabilize and manifest the results of the reforms.”

Regarding the development trend of the retail business, Wang Jun emphasized, “In 2026, with the further consolidation of business foundations and the high-quality development of large wealth management, we preliminarily judge that retail business revenue and profits will achieve further improvement.” He stated that the retail business will stick to “efficiency first, while considering scale,” handling the relationship between the long term and short term, continuously strengthening the synergy between business and risk, and promoting the coordinated development of online and offline channels.

Ji Guangheng believes that after two and a half years of reform, Ping An Bank has completed fundamental adjustments, the performance bottoming out is basically complete, and the most difficult time has passed. “In 2026, all levels of the bank will firmly believe in ‘returning to growth’ and provide strong financial support for achieving a good start to the ‘14th Five-Year Plan.’”

(Editor: Zhang Manyou, Review: He Shasha, Proofreading: Zhai Jun)