Following the departure of former President Lu Wei to Postal Savings Bank at the end of 2025, CITIC Bank has implemented further changes to its management team.
Zhao Yuanxin, who had just taken over as General Manager of the Head Office's Credit Execution Department from Jin Xinian late last year, has been promoted and has now assumed the role of Party Committee Member at CITIC Bank.
Additionally, regulatory approval information indicates that several mid-level management appointments at CITIC Bank have recently been finalized. A summary of these changes is provided below.
**I. New Party Committee Member Appointed at Head Office**
Zhao Yuanxin is a veteran of CITIC Bank with extensive branch management experience, having previously led three tier-1 branches. He served as President of the Nanchang Branch from October 2012, was transferred to President of the Suzhou Branch at the end of 2018, and succeeded He Jinsong as President of the Shanghai Branch in 2022. At the end of 2025, Zhao Yuanxin moved to the Head Office as General Manager of the Credit Execution Department, with Zhu Yiming succeeding him as President of the Shanghai Branch.
In terms of scale, the Shanghai Branch is CITIC Bank's third-largest branch, with total assets reaching 6196.09 billion yuan as of the end of June 2025, second only to the Beijing and Hangzhou branches. Historically, current Deputy Presidents Hu Gang and He Jinsong have both previously served as President of the Shanghai Branch.
Currently, CITIC Bank's Chairman, Fang Heying, is acting as the performing officer for the President's duties. The senior management team also includes five Deputy Presidents: Hu Gang, Xie Zhibin, Gu Lingyun, He Jinsong, and Jin Xinian; Business Director Lu Jingen; and Board Secretary & Company Secretary Zhang Qing.
It is noteworthy that CITIC Bank has not yet disclosed its candidate for Chief Compliance Officer. The one-year regulatory transition period for the "Administrative Measures for Compliance of Financial Institutions" ended on March 1st, leading to a recent wave of banks announcing their Chief Compliance Officers.
To date, Chief Compliance Officers have been appointed at eight joint-stock banks. The appointments generally fall into three categories: first, the President concurrently holding the role, as seen with Zheshang Bank's President Lu Linhua and Bohai Bank's President Qu Hongzhi; second, other senior executives taking on the role concurrently, such as at China Everbright Bank, Industrial Bank, Shanghai Pudong Development Bank, and China Minsheng Bank where Deputy Presidents serve concurrently, and at Ping An Bank where Assistant President and Chief Risk Officer Wu Leiming holds the position; and third, the appointment of dedicated Chief Compliance Officers, exemplified by Yang Hong at Huaxia Bank.
**II. Appointment of Deputy Head at Credit Card Center**
On March 6th, the appointment of Zeng Yufang as Vice President of CITIC Bank's Credit Card Center was approved.
Zeng Yufang, born in December 1970, graduated from the US International University with a Master's degree in Business Administration. She previously served as Assistant Chief of the Finance and Accounting Department at the Shenzhen Branch of China Development Bank. After joining CITIC Bank, she held positions including Deputy General Manager and General Manager of the Accounting Department at the Shenzhen Branch, Assistant President and Vice President of the Shenzhen Branch, and was transferred to Vice President of the Guangzhou Branch in 2020.
Additionally, Zeng Yufang has served as a Employee Representative Supervisor of CITIC Bank since September 2017, with a pre-tax remuneration of 1.2808 million yuan in 2024. According to a CITIC Bank announcement, effective December 16, 2025, the bank abolished its Board of Supervisors, with the Board's Audit Committee assuming its functions.
The Credit Card Center is a tier-1 department established by CITIC Bank's Head Office in Shenzhen. It officially began issuing cards at the end of 2003 and was approved as a branch-level specialized institution by the former China Banking Regulatory Commission in December 2007. As of the end of June 2025, the Credit Card Center operated 77 subsidiary branches, employed 5,172 staff, and had assets totaling 453.557 billion yuan.
Currently, as the entire industry operates in a stock market environment, CITIC Bank's credit card business is also facing challenges with declining performance. Data shows that from January to June 2025, CITIC Bank's credit card transaction volume was 10,854.12 billion yuan, a year-on-year decrease of 12.54%; credit card business revenue was 24.486 billion yuan, down 14.61% year-on-year.
In the first three quarters of 2025, the outstanding balance of CITIC Bank's credit card loans was 464.92 billion yuan, a decrease of 23.796 billion yuan, or 4.87%, from the end of 2024. However, in the third quarter of 2025, the bank's credit card business showed signs of recovery by focusing on popular consumption trends, with online credit card transaction volume increasing by 11.47% quarter-on-quarter and the credit card loan balance increasing by 5.805 billion yuan compared to the end of the second quarter.
On the other hand, the benefits associated with CITIC Bank credit cards are also being reduced. On March 4th, the bank announced adjustments to the benefits for its Private Banking Platinum credit cards and the Priority Pass global airport lounge access for premium cards: effective April 22nd (inclusive), new applicants for the Private Banking Visa Platinum card will receive PP benefits (16 points/year for primary cardholders, 8 points/year for supplementary cardholders, with a limit of one guest per visit, requiring point deduction for guests); the Private Banking Mastercard Platinum primary and supplementary cards, along with other platinum cards, will no longer include complimentary PP card global airport lounge access.
**III. Presidents Appointed for Two Tier-1 Branches**
On March 6th, the appointment of Zhang Xuqing as President of CITIC Bank's Xiamen Branch was approved. Zhang previously served as General Manager of the Ningbo Branch's E-Banking Department, Assistant General Manager and Deputy General Manager of the Head Office's International Business Department, and became President of the Hong Kong Branch in June 2023.
On February 14th, the appointment of Liu Fenglun as President of CITIC Bank's Guiyang Branch was approved. Liu previously held positions including Vice President of the Luoyang Branch, and General Manager of the Credit Approval Department, Assistant President, and Vice President of the Zhengzhou Branch.
As of the end of June 2025, CITIC Bank operated 1,477 business outlets in 153 large and medium-sized cities across China, including 37 tier-1 (directly affiliated) branches, 125 tier-2 branches, and 1,315 sub-branches. Internationally, it maintains a London Branch, a Hong Kong Branch, and a Sydney Representative Office in Australia.
The 2025 performance forecast disclosed in January this year showed that CITIC Bank became the fourth joint-stock bank to join the "10 Trillion Club" in terms of assets. As of the end of 2025, the bank's total assets reached 10,131.658 billion yuan, an increase of 6.28% from the end of the previous year.
In terms of performance, while operating revenue saw a slight decrease, net profit increased. For the full year 2025, CITIC Bank achieved a net profit attributable to shareholders of 70.618 billion yuan, an increase of 2.98% over the previous year; total operating revenue was 212.475 billion yuan, a decrease of 0.55% year-on-year.
Regarding asset quality, as of the end of 2025, CITIC Bank's non-performing loan ratio was 1.15%, down 0.01 percentage points from the end of the previous year; the loan loss provision coverage ratio was 203.61%, down 5.82 percentage points from the end of the previous year.
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