PAB's 2017 Results Showed both Strong Progress and Growing Pains of the Transformation
No-moat Ping An Bank’s, or PAB's, 2017 results reflect solid progress of its determined transformation while the result also showed growing pains might still linger for the near term. The results were unimpressive given total revenue declined 1.8% and net profit increased 2.6% from 2016, which also came in sharp contrast to the average of 34% and 18% growth the bank achieved during 2013 and 2015. This was attributable to a decline in net interest margin, or NIM, slower fee income growth and high...Ping An Bank is providing commercial banking services approved by Bank of China. Co is engaged in the offering of company loans, deposits, trade finance, company wealth management, and company intermediary services; providing personal loans, deposits, bank cards, personal wealth management services, and other personal intermediary services; local and foreign currency tradings; bond investments and other money market operations; and providing central management on non-performing assets, equity investments and nonclassifiable assets, liabilities, revenues and expenditures. As of Dec 31 2013, Co. had total assets of RMB1,891,741,000,000 and total deposits of RMB1,667,791,000,000.
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