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Loans To Customers | 12 Months Ended
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Dec. 31, 2022
Text block [abstract] |
Loans to customers |
21 | Loans to customers
|  | As of December 31, |
|  | 2021 |  |  | 2022 |
| RMB’000 |  |  | RMB’000 |
Loans originated by consolidated trust plans |  |  | 202,175,185 |  |  |  | 186,396,992 |
Loans originated by microloan lending companies and consumer finance company |  |  | 12,587,586 |  |  |  | 30,109,705 |
Interest receivable |  |  | 2,963,210 |  |  |  | 2,002,926 |
Less: Provision for impairment losses |  |  |  |  |  |  |  |
Stage 1 |  |  | (1,860,245 | ) |  |  | (4,481,912 | )
Stage 2 |  |  | (312,280 | ) |  |  | (1,197,126 | )
Stage 3 |  |  | (581,346 | ) |  |  | (1,383,940 | )
|  |  | (2,753,871 | ) |  |  | (7,062,978 | )
|  |  | 214,972,110 |  |  |  | 211,446,645 |
Expected credit loss rate |  |  | 1.26 | % |  |  | 3.23 | %
(a) | As of December 31, 2021 and 2022, loans amounting to RMB162,417 million and RMB142,966 million, respectively, were covered by credit enhancement provided by credit enhancement providers. Of these amounts, the majority of the balance in each period was 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 providers independently underwrite the borrowers and entered into the credit enhancement agreements either in the form of credit insurance or financing guarantees directly with the borrowers. The beneficiaries of such credit enhancement are the institutional funding partners who provide funding to the borrowers.
(b) | For the years ended December 31, 2020, 2021 and 2022, the amounts of concession provided to customers were not material.
( c ) | 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 |
Transfers |  |  | (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 |
( d ) | 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 |
Transfers |  |  | (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 transfers |  |  | (3,066 | ) |  |  | 164,932 |  |  |  | 322,605 |  |  |  | 484,471 |
Loans de-recognized and other adjustments in the current period (including repayments 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 |
( e ) | 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 |
Transfers |  |  | (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 |
( f ) | 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 |
Transfers. . |  |  | (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 |
( g ) | The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2022:
|  | Year ended December 31, 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2022 |  |  | 215,525,406 |  |  |  | 1,576,245 |  |  |  | 624,330 |  |  |  | 217,725,981 |
New loans originated |  |  | 215,834,125 |  |  |  | — |  |  |  | — |  |  |  | 215,834,125 |
Transfers |  |  | (17,245,234 | ) |  |  | 13,239,242 |  |  |  | 4,005,992 |  |  |  | — |
— From stage 1 to stage 2 |  |  | (17,540,156 | ) |  |  | 17,540,156 |  |  |  | — |  |  |  | — |
— From stage 2 to stage 1 |  |  | 294,922 |  |  |  | (294,922 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (4,015,845 | ) |  |  | 4,015,845 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 9,853 |  |  |  | (9,853 | ) |  |  | — |
Loans de-recognized and other adjustments in the current period (including repayments of loans) |  |  | (201,023,209 | ) |  |  | (10,854,775 | ) |  |  | (159,277 | ) |  |  | (212,037,261 | )
Write-offs |  |  | — |  |  |  | — |  |  |  | (3,013,222 | ) |  |  | (3,013,222 | )
As of December 31, 2022 |  |  | 213,091,088 |  |  |  | 3,960,712 |  |  |  | 1,457,823 |  |  |  | 218,509,623 |
( h ) | The following table sets forth the movement of ECL allowance for the year ended December 31, 2022:
|  | Year ended December 31, 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | Total |
As of January 1, 2022 |  |  | 1,860,245 |  |  |  | 312,280 |  |  |  | 581,346 |  |  |  | 2,753,871 |
New loans originated |  |  | 1,609,220 |  |  |  | — |  |  |  | — |  |  |  | 1,609,220 |
Transfers |  |  | (3,550,516 | ) |  |  | 1,088,799 |  |  |  | 3,840,446 |  |  |  | 1,378,729 |
— From stage 1 to stage 2 |  |  | (3,573,960 | ) |  |  | 3,573,960 |  |  |  | — |  |  |  | — |
— From stage 2 to stage 1 |  |  | 54,161 |  |  |  | (54,161 | ) |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (3,575,710 | ) |  |  | 3,575,710 |  |  |  | — |
— From stage 3 to stage 2 |  |  | — |  |  |  | 9,329 |  |  |  | (9,329 | ) |  |  | — |
Net impact on expected credit loss by stage transfers |  |  | (30,717 | ) |  |  | 1,135,381 |  |  |  | 274,065 |  |  |  | 1,378,729 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) |  |  | (1,707,206 | ) |  |  | (403,559 | ) |  |  | (214,194 | ) |  |  | (2,324,959 | )
Change in parameters of expected credit loss model |  |  | 6,270,169 |  |  |  | 199,606 |  |  |  | 42,624 |  |  |  | 6,512,399 |
Write-offs |  |  | — |  |  |  | — |  |  |  | (3,013,222 | ) |  |  | (3,013,222 | )
Recovery of loans written off previously |  |  | — |  |  |  | — |  |  |  | 146,940 |  |  |  | 146,940 |
As of December 31, 2022 |  |  | 4,481,912 |  |  |  | 1,197,126 |  |  |  | 1,383,940 |  |  |  | 7,062,978 |
As of December 31, 2022, loans to customers amounting to RMB3,013 million were written off in 2022 and were still subject to enforcement activity. The enforcement activity includes the amounts written off in previous years.

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