Ping An Bank to lift IT spending

Lender will stick to technology-driven development, transform traditional business model

Ping An Bank said it will continue to increase investment in information technology as the Chinese lender strives to achieve high-quality growth through digital transformation despite growing risks brought about by global economic uncertainty and the country's economic slowdown.

"Our strategy of technology-driven development will not change," Xie Yonglin, chairman of Ping An Bank, said at a news conference in Shenzhen on Thursday. "We are looking to transform the traditional business model of retail banking next year with the help of technology."