On October 30, Minsheng Bank announced a board resolution approving Zheng Haiyang's appointment as a member of the Ninth Board Risk Management Committee. Zheng, currently vice president of Great Wall Asset, was elected as a non-executive director of Minsheng Bank in June this year, pending regulatory approval.
Additionally, the bank passed resolutions to adjust the setup of certain head office departments.
**Personnel Changes** The Beijing Branch, Minsheng Bank’s largest first-tier branch, reported assets of RMB 954.057 billion and 4,267 employees across 173 outlets as of June 2025.
In August, Li Wenshi, former head of the Beijing Branch, was promoted to deputy president of the bank. Recent updates reveal further changes in the branch’s leadership:
- Liu Yanbo, head of the Retail Banking Department at the head office, is set to become deputy party secretary and vice president of the Beijing Branch. - Liu holds degrees in financial mathematics from Peking University and mathematical statistics from Tsinghua University. He joined China Merchants Bank in 2003, holding roles in IT, finance, retail banking, and digital finance before joining Minsheng Bank in 2022 as head of its Online Finance Department.
- Zou Shan has stepped down as vice president of the Beijing Branch. - Zou joined Minsheng Bank in 2005 and previously led key branches, including Beijing Jianguomen and Guomao branches. During her tenure as head of the CBD Management Headquarters, deposits exceeded RMB 50 billion annually, with profits ranking first in the Beijing Branch.
Following Liu Yanbo’s transfer, Sun Xing, head of the Credit Card Center, will concurrently lead the Retail Banking Department. - Sun has overseen multiple first-tier branches, including Jinan, Urumqi, and Hefei, before assuming his current role in September 2025.
Shi Long, deputy head of the Credit Card Center, has been reassigned as a senior specialist after serving since December 2015. Three new deputies—Yan Chunzhong, Huang Haijun, and Hu Yuexin—joined the center this year.
**Business Performance** As of September 2025, Minsheng Bank’s credit card issuance surpassed 78 million, with outstanding loans exceeding RMB 440 billion. However, its credit card business has contracted amid industry-wide challenges: - H1 2025 electronic payment transactions fell 7.08% YoY to RMB 311.787 billion. - Credit card receivables dropped by RMB 27.345 billion to RMB 449.902 billion by June. - Five regional credit card centers were closed, and headcount declined by 452 to 7,778.
**Q3 Financials** The bank reported "revenue growth without profit growth" in its Q3 2025 results: - Revenue rose 6.74% YoY to RMB 108.509 billion, while net profit attributable to shareholders fell 6.38% to RMB 28.542 billion. - Credit impairment losses surged 28.2% to RMB 40.165 billion. - Net interest margin improved by 2 bps to 1.42%, with net interest income up 2.40% to RMB 75.510 billion. - Non-interest income grew 18.20%, driven by bond trading and fair value gains.
Retail banking assets under management increased 9.48% to RMB 3,225.593 billion, while private banking clients expanded 18.21%.
**Regulatory Penalty** On October 31, Minsheng Bank was fined RMB 58.65 million by regulators for lapses in loan, bill, interbank operations, and data reporting—its second major penalty this year.
Asset quality remained stable, with a non-performing loan ratio of 1.48% as of June 2025.
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