It was previously reported that Deng Hong, former President of Ping An Bank's Changsha Branch, is set to join Tianfeng Securities. Further information reveals that the new President for Ping An Bank's Changsha Branch has been appointed from the Credit Card Center. Concurrently, changes have occurred involving Deputy General Managers of the headquarters' retail and risk departments, as well as Presidents and Vice Presidents of several branches.
Qiu Zhenzhen, Vice President of the Credit Card Center, is slated to become the President of the Changsha Branch. Qiu Zhenzhen is a veteran in Ping An Bank's retail sector, having previously served as General Manager of the Retail Comprehensive Development Department, Vice President of the Retail Private Wealth Department, and General Manager of the Retail Business Sales Promotion Departments for the Northern, Central, and Eastern Regions. In July 2023, she was appointed Vice President of Ping An Bank's Shanghai Branch, overseeing retail operations. In March 2025, her appointment as Vice President of the Credit Card Center was approved. Recently, the Credit Card Center appointed two new Vice Presidents.
On May 9, the appointment of Qiu Ronghua as Deputy General Manager of Ping An Bank's Credit Card Center was approved. He previously served as Assistant General Manager of the Marketing and Planning Department at China Merchants Bank's Credit Card Center and as General Manager of the Offline Scenarios Business Department at Ant Consumer Finance, bringing extensive experience in retail financial scenario expansion and digital operations.
On April 24, the appointment of Bao Jianjun as Deputy General Manager of Ping An Bank's Credit Card Center was approved. He previously served as General Manager of the Hangzhou and Guangzhou Sub-centers within the Credit Card Center and has been serving as Assistant to the President of the Credit Card Center since June 2023.
Liu Deyuan, Vice President of the Harbin Branch, has been appointed Party Committee Secretary and designated President of the Haikou Branch. The former President of the Haikou Branch, Ji Wen, has assumed the role of President of the Wuhan Branch. Liu Deyuan previously served as Assistant President and Vice President of Ping An Bank's Harbin Branch, overseeing corporate banking.
Zhang Yan, Assistant President of the Hefei Branch, has been appointed Assistant President of the Xiamen Branch. He previously served as Assistant President of Ping An Bank's Changzhou Branch and was appointed Assistant President of the Hefei Branch in February 2022, overseeing retail operations.
Wang Xinhua, Vice President of the Xiamen Branch, has been appointed Deputy General Manager of the Headquarters' Private Banking and Wealth Management Department. He previously served as General Manager of the Private Banking Shanghai Sub-center, Sales Director for Private Banking, and Vice President of the Private Banking and Wealth Client Business Division at Ping An Bank. He assumed the role of Vice President of the Xiamen Branch in January 2025.
Jin Gang, Deputy General Manager of the Headquarters' Retail Credit Risk Management Department, will concurrently serve as Deputy General Manager of the Credit Product Center. Wang Jie, Deputy General Manager of the Headquarters' Credit Product Center, will concurrently serve as Deputy General Manager of the Retail Credit Risk Management Department. Wang Haoyi, Manager of the Investment Management Office within the Headquarters' Financial Institutions Department, has been appointed Assistant General Manager of the Financial Institutions Department. This round of mid-level personnel adjustments includes both rotations between headquarters and branches and promotions within the system. According to its ESG report, Ping An Bank has established three career development channels: management, professional, and business, supported by corresponding talent development strategies, promotion, and rotation systems. The bank is strengthening its leadership pipeline, focusing on cultivating versatile managers, and promoting cross-level, cross-functional, and cross-business rotations to build a high-caliber management team with professional expertise and cross-disciplinary experience.
The latest organizational chart shows that in 2025, Ping An Bank's headquarters retail division discontinued the "Private Banking and Wealth Innovation Department," while the risk management segment newly established a "Credit Product Center." In terms of institutional setup, as of the end of March 2026, Ping An Bank had 110 branches (including the Hong Kong Branch) and a total of 1,105 business outlets (including the headquarters, branches, and specialized institutions).
Operationally, Ping An Bank achieved a strong start in the first quarter, with both revenue and net profit showing growth. Asset scale remained stable, with total assets reaching 6,033.962 billion yuan as of March 31, an increase of 1.8% from the end of the previous year. In the first quarter of 2026, Ping An Bank reported operating revenue of 35.277 billion yuan, a year-on-year increase of 4.7%, and net profit of 14.523 billion yuan, a year-on-year increase of 3.0%. Non-interest net income accounted for 37.41% of total revenue, up 5.01 percentage points year-on-year, with growth in non-interest net income from wealth management and bond investment businesses. The net interest margin was 1.79%, up 1 basis point from the full year of the previous year.
Regarding retail business, Ping An Bank is deepening its strategic retail transformation, focusing on customer-centricity to build a distinctive retail bank. Guided by the operational objective of "prioritizing efficiency while considering scale," the bank is driving high-quality and sustainable development of its retail business. Specifically, for credit card business, as of the end of March 2026, Ping An Bank had 43.1264 million active credit card accounts, with outstanding credit card receivables of 402.088 billion yuan. Total credit card spending in the first quarter reached 484.392 billion yuan.
For private banking and wealth management, as of the end of March, Ping An Bank served 1.5161 million wealth management clients, an increase of 1.6% from the end of the previous year, including 2.1082 million private banking clients, up 2.5%. Assets under management (AUM) for private banking clients stood at 2,025.335 billion yuan, an increase of 1.7% from the end of the previous year. In the first quarter, wealth management fee income reached 1.874 billion yuan, a year-on-year increase of 55.1%.
Asset quality remained generally stable, with comprehensive risk management reinforced. As of the end of March, Ping An Bank's non-performing loan ratio was 1.05%, unchanged from the end of the previous year. The overdue ratios for loans past due over 60 days and over 90 days were 0.86 and 0.72, respectively. The provision coverage ratio was 219.59%, indicating a maintained strong risk absorption capacity.
Ping An Bank stated that it will continue to adhere to the strategic principle of "strengthening retail, refining corporate banking, and specializing in interbank business." It will persistently upgrade its operational strategies for retail, corporate, and financial institutions businesses, continuously strengthen risk management, deepen digital transformation, and maintain steady overall business operations.
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