Ping An Bank provides financing services for small and micro enterprises with the help of IoT, blockchain and other technologies

According to Tencent Finance, Ping An Bank (000001.SZ) disclosed the 2019 annual results report at its Shenzhen headquarters yesterday. According to the released big data, last year the bank realized operating income of 137.958 billion yuan, a year-on-year increase of 18.2%; net profit was 28.195 billion yuan, a year-on-year increase of 13.6%. The annual report revealed that in 2019, the bank's newly added customers of private enterprise loans accounted for more than 70% of all newly added customers of corporate loans. The financing approval for small and micro enterprises has been reduced from the traditional 30 days to the fastest 26 seconds, and the loan time has been reduced from 3 days to the fastest 10 seconds. Relevant sources explained that, with the help of Internet of Things, blockchain and other technologies, under the premise of controllable risks, provide small and micro enterprises with financing services of "unsecured, unsecured, online application, and online approval".