PAO Bank Limited, a member of the Ping An Insurance Group, has announced a new strategic partnership with China Ping An Insurance (Hong Kong) Company Limited to create an integrated banking and insurance ecosystem.
This collaboration, which coincides with PAO Bank’s fifth anniversary, is designed to offer customers a seamless financial experience by blending banking services with insurance protection.
According to a company statement, the partnership is a key part of PAO Bank’s mission to leverage its inherent “insurance DNA.”
The first joint initiative will allow PAO Bank customers to access travel insurance coverage as an added benefit with their banking services, while customers of China Ping An Insurance (Hong Kong) will receive exclusive deposit offers from the bank.
Ronald Iu, Chief Executive of PAO Bank, stated that the collaboration is “just the first step in our strategic blueprint” to build an integrated ecosystem where customers can manage their financial needs and enjoy exclusive benefits within a single application.
He highlighted the goal of creating a “1+1>2” synergy by combining the unique strengths of each company within the Ping An Group.
Kelvin Cheung, Managing Director of China Ping An Insurance (Hong Kong), echoed this sentiment, highlighting the partnership’s role in delivering superior wealth management and protection solutions.
To celebrate its fifth anniversary, PAO Bank is launching a series of promotions.
One offer, titled ‘5th Anniversary Treasure Reward’, provides customers with an opportunity to earn up to HKD1,000 in cash rewards by completing three missions: setting PAO Bank as their default FPS account, exchanging HKD5,000 to dollars, and making a new deposit of HKD200,000.
Additionally, new customers who open a retail banking account with a specific referral code can receive free travel insurance and an 18% annual interest rate on a one-month HKD time deposit.
An even higher rate of 20% is available to existing customers of China Ping An Insurance (Hong Kong) who open a new PAO Bank account.
