Stronger results for Ping'an Bank, but bad loans persist

Ping'an Bank has reported an overall improvement in its performance in the first half of this year, but also admitted it is facing greater pressure from bad loans.

The Shenzhen-based subsidiary of Ping An Insurance Company of China Ltd recorded a net profit of 11.59 billion yuan ($1.81 billion) in the first six months, a 15.02 percent increase on the same period last year.

Its net non-interest income reached 15.457 billion yuan, accounting for a record high of 33.19 percent of its total revenue.