Nanjing Bank Co., Ltd. announced on September 8 that it has agreed to appoint Long Yi as the bank's new vice president, with her qualification pending regulatory approval. Currently serving as Party Secretary and Chairman of Xinyuan Fund, the bank's controlling subsidiary, Long Yi will become the only female executive in the senior management team once she officially assumes her post.
This appointment marks the first mid-term addition of a vice president since the current executive team was hired in January 2024. The existing leadership includes President Zhu Gang and Vice Presidents Zhou Wenkai, Chen Xie, Mi Le, Song Qingsong, Jiang Zhichun, and Chen Xiaojiang.
Long Yi's career trajectory has been entirely within the Nanjing Bank ecosystem. Born in 1975, she joined the bank in 1998 as a grassroots teller before moving to the financial markets department in 2000 to focus on bond trading. By 2008, she had risen through the ranks to become deputy general manager of the financial markets department, and in 2013, she was tasked with establishing and leading the bank's interbank business division.
In April 2021, Long Yi relocated to Xinyuan Fund, the bank-backed public fund established in 2013 with Nanjing Bank holding 80% and Nanjing High-Tech holding 20%. She initially served as Party Secretary and General Manager, became acting Chairman in September 2022, and was officially appointed Chairman in March 2023.
During her tenure, Xinyuan Fund achieved remarkable growth, expanding total assets under management from approximately 39.5 billion yuan at the end of Q1 2021 to 236.1 billion yuan by June of this year — nearly a fivefold increase in five years. Fixed-income products dominate the fund's portfolio, with bond funds reaching 117.07 billion yuan and money market funds reaching 97.3 billion yuan.
Profitability has also improved significantly. In the first half of this year, Xinyuan Fund generated 469 million yuan in revenue and 158 million yuan in net profit, representing year-on-year increases of 31.59% and 47.06% respectively. The bank's 2026 semi-annual report shows net profit has already surpassed 60% of the full-year 2025 figure of 238 million yuan. Additionally, the company's QDII business qualification was formally approved in June.
This marks the first time in recent years that a subsidiary head has been directly promoted to vice president of the parent bank. With Long Yi's return, the position of Xinyuan Fund's top leadership has become vacant. Currently, General Manager Yu Jingliang, who previously held various positions at Nanjing Bank headquarters, is expected to take on increased responsibilities.
The timing of Long Yi's appointment coincides with a generational transition within Nanjing Bank's executive ranks. Two vice presidents have already reached 60 years of age, and upon approval of her qualification, Long Yi will become the second youngest vice president and the only female executive. Currently, the youngest vice president is Chen Xie, born in 1976.
The bank's interim results provided the backdrop for this leadership change. In the first half of the year, Nanjing Bank achieved revenue of 31.6 billion yuan, up 10.94% year-on-year, with attributable net profit reaching 13.65 billion yuan, an 8.17% increase. Net interest income was the primary growth driver, surging 40.19% to 21.94 billion yuan, representing 69.42% of total revenue compared to 54.94% in the same period last year.
Cost control on the liability side drove interest income growth, with interest income rising 11.80% while interest expenses declined 5.24%. Despite industry-wide narrowing net interest margins, the bank's NIM stood at 1.79%, down 0.07 percentage points year-on-year. Management outlined plans to stabilize margins through optimized asset allocation, adjusted liability structure, and enhanced pricing management, according to the business department head at the bank's performance briefing.
However, revenue growth was tempered by rising risk costs. Credit impairment losses increased 34.77% year-on-year to 7.44 billion yuan, significantly outpacing revenue growth. Independent director Qiang Ying explained the increase reflects accelerated risk resolution efforts, while the provision coverage ratio remains strong at 306.11%. The non-performing loan ratio improved slightly to 0.82%.
Non-interest income declined 24.73% to 9.66 billion yuan, with fee and commission income down 18.50% and investment gains down 28.80%. Vice President and Board Secretary Jiang Zhichun outlined recovery plans including strengthening retail distribution, expanding custody business through coordinated mechanisms, and leveraging subsidiaries like Nanyuan Wealth Management and Xinyuan Fund to support fee income growth. Retail distribution intermediary income grew over 30% in the first half, indicating early success in wealth management transformation.
With this context, promoting Xinyuan Fund's chairman into the bank's executive layer signals a clear strategic direction for strengthening collaboration between the parent bank's distribution channels and subsidiary asset management capabilities.
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