Pudong Bank 1H net interest income 58.31 billion yuan

Pudong Bank 1H net interest income 58.31 billion yuan

Beijing/Shanghai, Aug 26 (Reuters) - China's Ping An Insurance (Group) Co. (601318.SS) reported an 8.8% drop in first-half net profit, according to a company filing. The insurer's net profit for the period was 68.047 billion yuan, down from 74.619 billion yuan in the same period last year. The decline was attributed to sluggish investment returns and weaker earnings at its banking unit, amidst a slowing economy.

Total investment income fell by 30.2% to 5.99 billion yuan in the first half, while the number of retail customers rose by 1.8% to 246.81 million at the end of June. The value of new business in the life and health insurance segment grew by 39.8% to 22.335 billion yuan. Ping An Insurance has shifted its investment portfolio, focusing on high-dividend banking shares in the offshore market.

Ping An Bank (000001.SZ), a subsidiary of Ping An Insurance, reported a 3.9% decline in net profit year-on-year to 24.87 billion yuan in the first half, due to sluggish loan demand.

The company's filing highlighted the challenges facing China's economy, including a complex international environment and lackluster domestic demand.

References:
[1] https://www.reuters.com/markets/asia/chinas-ping-an-insurance-posts-88-fall-first-half-profit-2025-08-26/