Ping An uses advanced tech to reduce risks

Utilizing advanced technologies is strengthening Ping An Bank Co Ltd's ability to deal with non-performing assets, amid a shift toward retail banking that could raise its bad loan risks.

In the first half of 2018, the Shenzhen, Guangdong province-based bank recovered approximately 12.33 billion yuan ($1.79 billion) in nonperforming assets, surging 180.1 percent year-on-year, according to its 2018 interim results announced on Thursday.

The remarkable growth in recoveries can partly be attributed to the company's embrace of advanced tech, including artificial intelligence, big data and cloud computing, according to the bank's senior executives.