BEIJING, Feb. 15 (Xinhua) -- Ping An Bank saw a 13.6-percent rise in net profits in 2019 thanks to the strong performance of retail businesses.
The company's net profits rose to 28.2 billion yuan (about 4 billion U.S. dollars) last year, according to its financial report.
The bank's revenue reached 137.96 billion yuan in 2019, up 18.2 percent year on year, said the report.
Since the beginning of last year, the bank has diverted more loans to retail businesses and improved the quality of its assets.
The business structure shake-up has seen revenue from retail businesses surge 29.2 percent year on year to 79.97 billion yuan in 2019 or 58 percent of the bank's total.
By the end of 2019, the bank's total assets reached 3.94 trillion yuan, up 15.2 percent from the end of 2018, according to the bank.
