After returning to CITIC BANK for approximately a month, Lu Tiangui has maintained a relatively low public profile.
He has dedicated a significant portion of his time to internal operational matters.
The approval for his qualifications to serve as President of CITIC BANK was granted promptly.
The period from the bank's official announcement of Lu Tiangui's appointment as President and Chief Compliance Officer on May 20 to the regulatory approval on June 15 was less than a month.
Presently, Lu Tiangui has also joined the bank's board of directors, assuming the role of an executive director.
During the 2025 annual general meeting held on June 17, shareholders passed a resolution to elect Lu Tiangui as an executive director for the seventh board of CITIC BANK.
Many are curious about shareholder sentiment regarding Lu Tiangui.
Voting results indicate that A-share holders cast approximately 32.64 billion votes in favor, representing 99.96% support, with around 12.23 million votes against, accounting for 0.033%.
H-share holders cast roughly 7.892 billion votes in favor, a 98.7% approval rate, with about 103 million votes against, equating to 1.29%.
It is evident that support from H-share holders was slightly lower than that from A-share holders.
Among A-share holders owning less than 5% of the bank's voting shares, the approval rate reached 99.58%, with a 0.41% opposition rate.
This demonstrates strong support for Lu Tiangui from both large and small shareholders.
One contributing factor is Lu Tiangui's status as a veteran of CITIC BANK, with deep familiarity of its internal operations, enabling a smoother and quicker transition into his role.
Born in the 1970s, Lu has held key positions including Business Director and Vice President at the bank's headquarters. In March 2025, he resigned as Vice President due to a work adjustment, and in May of the same year, he was elected Chairman of CITIC Trust.
Furthermore, Lu Tiangui possesses extensive experience in retail banking, having held pivotal roles in core divisions such as the Credit Card Center, Retail Banking Department, and Private Banking Department.
The retail banking segment at CITIC BANK is in urgent need of a breakthrough.
From a business segment perspective, the retail banking division is facing profit pressures. In 2025, its operating revenue was RMB 79.367 billion, a year-on-year decrease of 7.37%, with pre-tax profit at RMB 5.303 billion, down 42.54% year-on-year.
Following CITIC BANK's ascent past the RMB 10 trillion asset threshold, retail banking has become a crucial area for growth.
As of the end of the first quarter of 2026, the bank's total assets amounted to RMB 10.24 trillion, a 1.09% increase from the end of the previous year.
Total loans and advances reached RMB 5.99 trillion, growing 2.34% from year-end.
Within this, corporate loans (excluding discounts) stood at RMB 3,506.454 billion, an increase of RMB 213.249 billion or 6.48% from year-end.
In contrast, personal loans (excluding credit card loans) were RMB 1.89 trillion, a decrease of RMB 12.523 billion or 0.66% from year-end.
Concurrently, credit card loan balances were RMB 451.417 billion, down RMB 11.674 billion or 2.52% from year-end.
This indicates a contraction in CITIC BANK's retail loan portfolio.
However, on another front, the bank is intensifying efforts in high-quality customer acquisition and management. By the end of Q1 2026, its number of individual customers reached 154 million, a 1.10% increase from the end of the previous year.
Comments