The vice president and assistant president of China Zheshang Bank resigned on the same day and had just “changed the coach”
China Times (www.chinatimes.net.cn) reporter Liu Jia reported in Beijing
The banking industry welcomes executive changes again.
On the evening of February 18, China Zheshang Bank issued an announcement on the resignation of the vice president and assistant president. According to the announcement, Mr. Wu Jianwei resigned from the position of vice president of the Company due to personal reasons, and Mr. Sheng Hongqing resigned from the position of assistant president of the Company due to personal reasons. The above resignations have become effective. After their resignation, Mr. Wu Jianwei and Mr. Sheng Hongqing no longer hold any positions in the Company.
Prior to this, Zheshang Bank had just “changed its coach”.
On the evening of January 11, China Zheshang Bank announced that according to the decision of the Zhejiang Provincial Committee of the Communist Party of China, Lu Jianqiang was appointed as a member and secretary of the Party Committee of China Zheshang Bank Co., Ltd., and Shen Renkang was removed from the position of secretary and member of the Party Committee of Zheshang Bank Co., Ltd.
It is worth noting that the share price of Zheshang Bank’s A shares has been sluggish. On the first trading day of the Year of the Tiger (February 7), it announced that it would initiate share price stabilization measures, only because the closing price of the share price for 20 consecutive trading days was lower than the most recent one. Audited net assets per share.
Regarding this adjustment, industry insiders said that the Zhejiang Provincial Party Committee focuses on the construction of provincial enterprises, and for the longer-term and higher-quality development of Zheshang Bank, the decision made after comprehensive consideration and prudent research is normal personnel exchanges and replacements, not It will have a significant impact on the operation of China Zheshang Bank.
Two executives born in the 1970s resign
According to public information, Wu Jianwei was born in 1971 and has worked in the banking industry for 29 years, including 22 years in Agricultural Bank of China and 7 years in Zheshang Bank.
In July 1993, Wu Jianwei joined the Agricultural Bank of China and served as the Assistant Director of the Information Technology Department, the Deputy Director of the Data Operation Center, the Deputy Director and Director of the Electronic Banking Department, and the General Manager of the Electronic Banking Department of the Agricultural Bank of China Zhejiang Branch. From September 2010 to September 2013, Wu Jianwei served as Secretary of the Party Committee and President of the Agricultural Bank of China Wenzhou Branch; from September 2013 to March 2015, Wu Jianwei left Zhejiang Province and served as a member of the Party Committee and Assistant to the President of the Inner Mongolia Autonomous Region Branch of the Agricultural Bank of China.
In March 2015, Wu Jianwei returned to Zhejiang Province and joined China Zheshang Bank as the assistant to the president; in April 2016, Wu Jianwei was promoted to the vice president of China Zheshang Bank. Secretary of the Party Committee and President of China Zheshang Bank Shanghai Branch.
Along with Wu Jianwei, Sheng Hongqing, the assistant to the president, also resigned from Zheshang Bank.
According to public information, Sheng Hongqing and Wu Jianwei were born in the same year and have 16 years of experience in the banking industry. He graduated from the Graduate School of Chinese Academy of Social Sciences with a major in World Economics and obtained a Ph.D. in Economics. He used to be the Deputy Director and Director of the Financial Engineering Division of the Treasury Department of the Head Office of China Everbright Bank, and the Assistant President and Chief Investment Officer of Huishang Bank. In June 2018, Sheng Hongqing joined China Zheshang Bank as an assistant to the president and worked for Zheshang Bank for 4 years.
Zheshang Bank expressed its gratitude to Wu Jianwei and Sheng Hongqing for their contributions to the bank during their tenures. There is no announcement about the next steps of the two post-70s executives.
In addition, in January this year, the new head of Zheshang Bank was settled, and Lu Jianqiang, the former chairman of Caitong Securities, was appointed as the party committee member and secretary of Zheshang Bank. Zheshang Bank and Caitong Securities are both provincial enterprises and share the largest shareholder, Zhejiang Financial Holding Co., Ltd., which is wholly-owned by the Zhejiang Provincial Department of Finance.
Initiate stock price stabilization measures
Zheshang Bank is one of the 12 national joint-stock commercial banks. It officially opened on August 18, 2004 and is headquartered in Hangzhou, Zhejiang.
In the middle of last year, the senior management of Zheshang Bank underwent a “big change”. On the evening of June 8, 2021, Zheshang Bank suddenly announced that the bank’s board of directors received the resignation reports of executive director and president Xu Renyan, as well as vice presidents Xu Manxuan and Liu Guishan. The reasons for their resignations were “work arrangements”. Before Lu Jianqiang, the Party Secretary and Chairman of China Zheshang Bank was Shen Renkang.
As of the end of 2020, Zheshang Bank’s total assets were 2.05 trillion yuan, an increase of 13.74% over the end of the previous year, of which total loans and advances were 1.2 trillion yuan, an increase of 16.26%; total liabilities were 1.92 trillion yuan, an increase of 14.52% over the end of the previous year. Among them, the balance of deposits from customers was 1.34 trillion yuan, an increase of 16.78%; the non-performing loan ratio was 1.42%, the provision coverage ratio was 191.01%; the capital adequacy ratio was 12.93%, the tier 1 capital adequacy ratio was 9.88%, and the core tier 1 capital adequacy ratio was 8.75%. remain at a reasonable level.
In 2021, Zheshang Bank will accelerate the iterative upgrade of platform-based products and business models. The balance of platform-based service financing accounts for 37% of the total credit business balance, and the number of platform-based service companies has reached 62,500.
According to the bank’s 2021 third quarter report, as of the end of the reporting period, the group’s total assets were 2.176 trillion yuan, an increase of 6.25% over the end of the previous year. The operating income was 40.416 billion yuan, a year-on-year increase of 14.69%. Net profit attributable to shareholders was 10.578 billion yuan, a year-on-year increase of 4.28%.
In terms of asset quality, the non-performing loan ratio was 1.52%, the provision coverage ratio was 185.18%, and the core tier 1 capital adequacy ratio was 8.45%.
According to the research report of CICC, in the third quarter, other non-interest income led to a high increase in revenue. At the same time, the “3+2” platform model can penetrate into the business scenarios of core enterprises and their upstream and downstream customers, effectively improve the company’s KYC capabilities, and help asset quality. improve.
When the third quarterly report was disclosed on the same day, Zheshang Bank also announced a share placement plan, which planned to place no more than 3 shares for every 10 shares of the original A-share shareholders, and the total amount of funds raised from the placement should not exceed 18 billion yuan, which will be used to supplement the core tier one. capital to support the steady development of various businesses in the future.
It is worth noting that from January 4, 2022 to February 7, 2022, the closing price of Zheshang Bank’s A shares has been below 5.269 yuan for 20 consecutive trading days, and the bank immediately announced the start of stock price stabilization measures. It also stated that it will hold a board of directors before February 21, 2022 to formulate and announce specific measures to stabilize the stock price.
According to the Stock Price Stabilization Plan, the closing price of Zheshang Bank’s A shares for 20 consecutive trading days was lower than the latest audited net assets per share, which was not due to force majeure. The specific plan for stabilizing the stock price reviewed and approved by the internal approval process, and proactive measures were taken to stabilize the stock price.
As of the close on February 18, the share price of Zheshang Bank’s A shares was reported at 3.52 yuan per share.Return to Sohu, see more
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