Ping An sees synergy among group units

Ping An Bank, a unit of Ping An Insurance Group, is teaming up with other units of the group to further tap the retail market this year, its chairman Xie Yonglin said on Thursday.

The bank had "satisfactory" results in the development of its retail business in 2017. Operating revenue of the business grew 41.72 percent year-on-year to approximately 46.69 billion yuan ($7.4 billion) in 2017, accounting for 44.14 percent of its total revenue.

And net profit generated by the retail sector showed even stronger growth, surging 68.32 percent on a yearly basis to about 15.68 billion yuan last year, accounting for 67.62 percent of the bank's total net profit.