The Chinese bank’s newly-opened Ping An Wealth Management rolled out more net-value-based products including structured wealth products that meet requirements of new asset management regulations.
Ping An Bank, the subsidiary of Ping An Insurance Company of China, has posted a net profit of CNY8.7 billion (US$1.35 billion) for the quarter ended on 30 September, up 6.1% year-on-year (YoY). Net interest income and net fee and commission income saw an increase of 9.8% and 32.6% to CNY24.8 billion and CNY12.5 billion during the period from July to September, respectively YoY. Meanwhile, investment income plunged to CNY278m from CNY2.8 billion YoY. During the period from January to September
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