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Loans To Customers | 12 Months Ended
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Dec. 31, 2021
Text block [abstract] |
Loans to customers |
21 | Loans to customers
|  | As of December 31, |
|  | 2020 |  |  | 2021 |
| RMB’000 |  |  | RMB’000 |
Loans originated by consolidated trust plans |  |  | 112,253,099 |  |  |  | 202,175,185 |
Loans originated by microloan lending companies and consumer finance company |  |  | 6,240,803 |  |  |  | 12,587,586 |
Interest receivable |  |  | 2,321,117 |  |  |  | 2,963,210 |
Less: Provision for impairment losses |  |  |  |  |  |  |  |
Stage 1 |  |  | (480,854 | ) |  |  | (1,860,245 | )
Stage 2 |  |  | (195,339 | ) |  |  | (312,280 | )
Stage 3 |  |  | (313,012 | ) |  |  | (581,346 | )
|  |  | (989,205 | ) |  |  | (2,753,871 | )
|  |  | 119,825,814 |  |  |  | 214,972,110 |
(a) | As of December 31, 2020 and 2021, loans amounting to RMB105,325 million and RMB162,417 million, respectively, were covered by credit enhancement provided by credit enhancement partners. Out of which, the majority of the balance were covered by credit insurance provided by Ping An Property and Casualty Insurance Company (“Ping An P&C”), a subsidiary of Ping An Group. Credit enhancement partners independently underwrite the borrowers and entered into the credit enhancement agreements either in the form of credit insurance or financial guarantee directly with the borrowers. The beneficiaries of such credit enhancement are the institutional funding partners who provide funding to the borrowers.
(b) | As of December 31, 2020, part of the loan balance was related to loans from asset based securitization plans. These loans were originated by microloan lending companies within the Group that do not meet the criteria of derecognition as the Group continued to provide credit enhancement to the assets backed securitization plans. The asset based securitization plans represented a liability of the Group and were recorded as payable to investors of consolidated structured entities (refer to Note 31) in the consolidated financial statements, which consisted of principal and accrued interests. As of December 31, 2021, no loan balance was related to loans from asset based securization plans.
(c) | For the years ended December 31, 2019, 2020 and 2021, the amounts of concession provided to customers were not material.
(d) | The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2019:
|  | Year ended December 31, 2019 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2019 |  |  | 33,787,721 |  |  |  | 439,915 |  |  |  | 1,793,904 |  |  |  | 36,021,540 |
New loans originated |  |  | 53,015,937 |  |  |  | — |  |  |  | — |  |  |  | 53,015,937 |
Transfer s |  |  | (1,207,945 | ) |  |  | 116,102 |  |  |  | 1,091,843 |  |  |  | — |
— From stage 1 to stage 2 |  |  | (274,558 | ) |  |  | 274,558 |  |  |  | — |  |  |  | — |
— From stage 1 to stage 3 |  |  | (935,301 | ) |  |  | — |  |  |  | 935,301 |  |  |  | — |
— From stage 2 to stage 1 |  |  | 1,914 |  |  |  | (1,914 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (157,987 | ) |  |  | 157,987 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 1,445 |  |  |  | (1,445 | ) |  |  | — |
Loans de-recognized and other adjustments in the current period (including repayments of loans) |  |  | (38,543,538 | ) |  |  | (231,577 | ) |  |  | (1,233,244 | ) |  |  | (40,008,359 | )
Write-offs |  |  | — |  |  |  | — |  |  |  | (279,292 | ) |  |  | (279,292 | )
As of December 31, 2019 |  |  | 47,052,175 |  |  |  | 324,440 |  |  |  | 1,373,211 |  |  |  | 48,749,826 |
(e) | The following table sets forth the movement of ECL allowance for the year ended December 31, 2019:
|  | Year ended December 31, 2019 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2019 |  |  | 318,987 |  |  |  | 111,091 |  |  |  | 1,163,768 |  |  |  | 1,593,846 |
New loans originated |  |  | 14,948 |  |  |  | — |  |  |  | — |  |  |  | 14,948 |
Transfer s |  |  | (19,116 | ) |  |  | (9,368 | ) |  |  | 803,752 |  |  |  | 775,268 |
— From stage 1 to stage 2 |  |  | (4,815 | ) |  |  | 4,815 |  |  |  | — |  |  |  | — |
— From stage 1 to stage 3 |  |  | (14,663 | ) |  |  | — |  |  |  | 14,663 |  |  |  | — |
— From stage 2 to stage 1 |  |  | 1,347 |  |  |  | (1,347 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (54,270 | ) |  |  | 54,270 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 1,210 |  |  |  | (1,210 | ) |  |  | — |
Net impact on expected credit loss by stage transfers |  |  | (985 | ) |  |  | 40,224 |  |  |  | 736,029 |  |  |  | 775,268 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) |  |  | (214,897 | ) |  |  | (28,844 | ) |  |  | (679,038 | ) |  |  | (922,779 | )
Change in parameters of expected credit loss model |  |  | 36,474 |  |  |  | (19,621 | ) |  |  | 52,470 |  |  |  | 69,323 |
Write-offs |  |  | — |  |  |  | — |  |  |  | (279,292 | ) |  |  | (279,292 | )
As of December 31, 2019 |  |  | 136,396 |  |  |  | 53,258 |  |  |  | 1,061,660 |  |  |  | 1,251,314 |
Loans to customers amounting to RMB279 million were written off in 2019 and were still subject to enforcement activity.
(f) | The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2020:
|  | Year ended December 31, 2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2020 |  |  | 47,052,175 |  |  |  | 324,440 |  |  |  | 1,373,211 |  |  |  | 48,749,826 |
New loans originated |  |  | 141,924,691 |  |  |  | — |  |  |  | — |  |  |  | 141,924,691 |
Transfer s |  |  | (2,124,274 | ) |  |  | 1,713,887 |  |  |  | 410,387 |  |  |  | — |
— From stage 1 to stage 2 |  |  | (1,806,096 | ) |  |  | 1,806,096 |  |  |  | — |  |  |  | — |
— From stage 1 to stage 3 |  |  | (324,045 | ) |  |  | — |  |  |  | 324,045 |  |  |  | — |
— From stage 2 to stage 1 |  |  | 5,867 |  |  |  | (5,867 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (98,355 | ) |  |  | 98,355 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 12,013 |  |  |  | (12,013 | ) |  |  | — |
Loans de-recognized and other adjustments in the current period (including repayments of loans) |  |  | (67,284,010 | ) |  |  | (1,198,510 | ) |  |  | (195,666 | ) |  |  | (68,678,186 | )
Write-offs |  |  | — |  |  |  | — |  |  |  | (1,181,312 | ) |  |  | (1,181,312 | )
As of December 31, 2020 |  |  | 119,568,582 |  |  |  | 839,817 |  |  |  | 406,620 |  |  |  | 120,815,019 |
(g) | The following table sets forth the movement of ECL allowance for the year ended December 31, 2020:
|  | Year ended December 31, 2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2020 |  |  | 136,396 |  |  |  | 53,258 |  |  |  | 1,061,660 |  |  |  | 1,251,314 |
New loans originated |  |  | 373,266 |  |  |  | — |  |  |  | — |  |  |  | 373,266 |
Transfer s |  |  | (107,551 | ) |  |  | 213,807 |  |  |  | 378,215 |  |  |  | 484,471 |
— From stage 1 to stage 2 |  |  | (101,324 | ) |  |  | 101,324 |  |  |  | — |  |  |  | — |
— From stage 1 to stage 3 |  |  | (7,322 | ) |  |  | — |  |  |  | 7,322 |  |  |  | — |
— From stage 2 to stage 1 |  |  | 4,161 |  |  |  | (4,161 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (49,632 | ) |  |  | 49,632 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 1,344 |  |  |  | (1,344 | ) |  |  | — |
Net impact on expected credit loss by stage transfer s |  |  | (3,066 | ) |  |  | 164,932 |  |  |  | 322,605 |  |  |  | 484,471 |
Loans de-recognized and other adjustments in the current period (including repayment s of loans) |  |  | (203,494 | ) |  |  | (89,632 | ) |  |  | (119,197 | ) |  |  | (412,323 | )
Change in parameters of expected credit loss model |  |  | 282,237 |  |  |  | 17,906 |  |  |  | (664 | ) |  |  | 299,479 |
Write-offs |  |  | — |  |  |  | — |  |  |  | (1,181,312 | ) |  |  | (1,181,312 | )
Recovery of loans written off previously |  |  | — |  |  |  | — |  |  |  | 174,310 |  |  |  | 174,310 |
As of December 31, 2020 |  |  | 480,854 |  |  |  | 195,339 |  |  |  | 313,012 |  |  |  | 989,205 |
L oans to customers amounting to RMB1,181 million were written off in 2020 and were still subject to enforcement activity.
(h) | The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2021:
|  | Year ended December 31, 2021 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2021 |  |  | 119,568,582 |  |  |  | 839,817 |  |  |  | 406,620 |  |  |  | 120,815,019 |
New loans originated |  |  | 234,198,681 |  |  |  | — |  |  |  | — |  |  |  | 234,198,681 |
Transfer s |  |  | (5,530,212 | ) |  |  | 4,439,585 |  |  |  | 1,090,627 |  |  |  | — |
— From stage 1 to stage 2 |  |  | (5,579,855 | ) |  |  | 5,579,855 |  |  |  | — |  |  |  | — |
— From stage 2 to stage 1 |  |  | 49,643 |  |  |  | (49,643 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (1,091,109 | ) |  |  | 1,091,109 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 482 |  |  |  | (482 | ) |  |  | — |
Loans de-recognized and other adjustments in the current period (including repayments of loans) |  |  | (132,711,645 | ) |  |  | (3,703,157 | ) |  |  | (25,534 | ) |  |  | (136,440,336 | )
Write-offs |  |  | — |  |  |  | — |  |  |  | (847,383 | ) |  |  | (847,383 | )
As of December 31, 2021 |  |  | 215,525,406 |  |  |  | 1,576,245 |  |  |  | 624,330 |  |  |  | 217,725,981 |
(i) | The following table sets forth the movement of ECL allowance for the year ended December 31, 2021:
|  | Year ended December 31, 2021 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2021 |  |  | 480,854 |  |  |  | 195,339 |  |  |  | 313,012 |  |  |  | 989,205 |
New loans originated |  |  | 1,346,940 |  |  |  | — |  |  |  | — |  |  |  | 1,346,940 |
Transfer s |  |  | (1,104,156 | ) |  |  | 454,235 |  |  |  | 1,045,357 |  |  |  | 395,436 |
— From stage 1 to stage 2 |  |  | (1,109,405 | ) |  |  | 1,109,405 |  |  |  | — |  |  |  | — |
— From stage 2 to stage 1 |  |  | 16,509 |  |  |  | (16,509 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (1,000,215 | ) |  |  | 1,000,215 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 458 |  |  |  | (458 | ) |  |  | — |
Net impact on expected credit loss by stage transfers |  |  | (11,260 | ) |  |  | 361,096 |  |  |  | 45,600 |  |  |  | 395,436 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) |  |  | (622,468 | ) |  |  | (470,524 | ) |  |  | (124,794 | ) |  |  | (1,217,786 | )
Change in parameters of expected credit loss model |  |  | 1,759,075 |  |  |  | 133,230 |  |  |  | 24,216 |  |  |  | 1,916,521 |
Write-offs |  |  | — |  |  |  | — |  |  |  | (847,383 | ) |  |  | (847,383 | )
Recovery of loans written off previously |  |  | — |  |  |  | — |  |  |  | 170,938 |  |  |  | 170,938 |
As of December 31, 2021 |  |  | 1,860,245 |  |  |  | 312,280 |  |  |  | 581,346 |  |  |  | 2,753,871 |
As of December 31, 2021, loans to customers amounting to RMB847 million were written off in 2021 and were still subject to enforcement activity.

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