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Ping An Bank saw mild profit growth in 2017
(MENAFN) Ping An Bank, a Shenzhen-listed lender controlled by Ping An Insurance, has posted a mild profit increase last year.
According to a statement filed to the Shenzhen Stock Exchange, the bank saw net profits increase 2.6 percent to 23.2 billion yuan in 2017.
However, revenue dropped 1.8 percent to 105.8 billion yuan, with net income from service charges and commissions climbing 10.1 percent due to credit card service growth.
According to the bank, the profit increase was due to a shift to retail banking, which contributed 67.6 percent to total net profits last year.
According to a statement filed to the Shenzhen Stock Exchange, the bank saw net profits increase 2.6 percent to 23.2 billion yuan in 2017.
However, revenue dropped 1.8 percent to 105.8 billion yuan, with net income from service charges and commissions climbing 10.1 percent due to credit card service growth.
According to the bank, the profit increase was due to a shift to retail banking, which contributed 67.6 percent to total net profits last year.
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