On October 24, the leading domestic joint-stock bank Ping An Bank Co., Ltd. (SZSE: 000001) released its 2026 third-quarter report.
The third-quarter report shows that from January to September 2026, the bank achieved operating revenue of 103.1 billion yuan, up 2.4% year on year, and net profit attributable to shareholders of the bank of 39.186 billion yuan, up 2.2% year on year, reflecting steady performance.
In terms of the capital adequacy ratio, at the end of the third quarter, the bank's core tier-one capital adequacy ratio was 9.61%, up 0.25 percentage points from the end of the previous year; the leverage ratio was 6.96%; and the liquidity coverage ratio was 110.77%.
Net interest income rose slightly year on year
Net interest income is the foundation of a bank, and Ping An Bank Co., Ltd. is relatively solid in this regard.
The third-quarter report shows that during the period, the bank achieved net interest income of 66.755 billion yuan, up 0.3% year on year, with stable operations.
In addition, what is more notable is that the bank's net interest margin in the third-quarter report reached 1.80%, up 1 basis point from the same period last year and up 2 basis points from the full year last year. At a time when the industry as a whole faces pressure on interest margins, the bank focused on expanding low-cost liability sources, and results from optimizing the corporate liability side became evident.
As of the end of September 2026, the balance of corporate loans was 1,709.026 billion yuan, up 2.7% from the end of the previous year; the balance of corporate deposits was 2,386.713 billion yuan, up 4.0% from the end of the previous year; and from January to September, the average interest payment rate on corporate deposits was 1.28%, down 33 basis points from the same period last year.
Corporate deposits saw "higher volume and lower prices," loan growth was moderate, and liability costs improved somewhat. Overall, efforts to expand low-cost liability sources achieved certain results.
The "core base" role of retail business became evident
As the core base of Ping An Bank Co., Ltd., the retail business saw relatively steady growth in credit scale in the third quarter.
In terms of deposit business, at the end of September 2026, the bank had 130.2789 million retail customers, up 1.9% from the end of the previous year, and assets under management for retail customers reached 4,392.327 billion yuan, up 3.6% from the end of the previous year.
The balance of personal deposits was 1,305.614 billion yuan, up 1.4% from the end of the previous year. Payroll and bulk business brought customer deposit balances of 419.504 billion yuan, up 6.5% from the end of the previous year. Wealth customers totaled 1.5365 million, up 3.0% from the end of the previous year, among whom private banking customers totaled 112,000, up 6.1% from the end of the previous year.
In terms of loan business, the balance of personal loans at Ping An Bank Co., Ltd. was 1,722.454 billion yuan, down 0.3% from the end of the previous year, among which mortgage-backed loans accounted for 61.8% of personal loans.
Among personal loans, the balance of housing mortgage loans was 365.793 billion yuan, up 3.0% from the end of the previous year; the balance of credit card receivables was 402.169 billion yuan, down 0.8% from the end of the previous year; the balance of consumer loans was 458.523 billion yuan, down 1.0% from the end of the previous year; and the balance of business loans was 495.969 billion yuan, down 1.5% from the end of the previous year.
Stepping up AI capability building
The development of Ping An Bank Co., Ltd. in digital finance was also reflected in the third-quarter report.
The third-quarter report shows that in the third quarter, the bank launched China's first personal AI computing power consumer debit card, the "AI Smart Computing Card," and issued the all-scenario AI credit card, the "Yuexiang White AI Life Card," achieving "payment as computing power" and enriching financial AI application scenarios.
In addition, by upgrading the "AI + T + Offline" service model and strengthening the application of digital tools such as AI assistants and intelligent voice outbound calls, the bank improved remote banking service capabilities and provided more customers with 7x24-hour service.
Risk compensation capacity remained sound
As of the end of September 2026, the non-performing loan ratio was 1.05%, flat from the end of the previous year; the provision coverage ratio was 214.75%, and the loan-to-provision ratio was 2.25%, maintaining sound risk compensation capacity.
Specifically, from January to September 2026, Ping An Bank Co., Ltd. wrote off 19.702 billion yuan of loans and recovered a total of 29.327 billion yuan in non-performing assets, including 13.766 billion yuan in principal of written-off non-performing assets recovered, of which 12.717 billion yuan was recovered written-off non-performing loans. Of the recovered non-performing assets, 98.7% was recovered in cash, while the remainder was recovered through methods such as asset offset.
In terms of corporate loans, at the end of September 2026, the corporate loan non-performing ratio was 0.89%, up 0.02 percentage points from the end of the previous year, and overall corporate credit risk indicators remained stable.
In terms of personal loans, the personal loan non-performing ratio was 1.20%, down 0.03 percentage points from the end of the previous year.
In addition, the balance of overdue loans accounted for 1.59%, up 0.25 percentage points from the end of the previous year. Regarding overdue loans, the report stated that differentiated control measures had been implemented.
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