On December 26, 2025, the board of Minsheng Bank reviewed and passed a resolution to absorb and merge Minsheng Village Banks. It is understood that Minsheng Bank is one of the joint-stock commercial banks that has initiated the establishment of a relatively large number of village banks, having set up a total of 29 such institutions.
At the beginning of 2026, Minsheng Bank accelerated its "village-to-branch" conversion process. On January 5th, the bank acquired shares of Ningjin Minsheng Village Bank from other shareholders, increasing its stake to 95%; the next step involves establishing a branch. On January 9th, the Nyingchi Minsheng Village Bank was approved for dissolution, while a secondary branch, the Nyingchi Branch, was simultaneously established.
Regarding personnel changes, it has been learned that the presidents and vice presidents of several primary branches of Minsheng Bank have seen changes at the start of the year, which are summarized in this report.
Xu Wenhua, the former President of the Guangzhou Branch, has been reassigned as the Chief Commissioner of the Hangzhou Branch. Xu Wenhua, who has previously led several primary branches for Minsheng Bank, served successively as Assistant President and Vice President of the Hangzhou Branch, President of the Wenzhou Branch, and President of the Jinan Branch, before succeeding Yang Jisheng as President of the Guangzhou Branch in April 2022. The Guangzhou Branch is Minsheng Bank's fourth-largest branch, with total assets reaching 340.035 billion yuan and a staff of 2,794 employees as of the end of June 2025.
Guo Dai, the former General Manager of the Head Office's Credit Management Department, has been appointed President of the Guangzhou Branch. Guo Dai holds a Ph.D. from the College of Economics and Management at China Agricultural University. He previously held positions in the Head Office's Risk Management Department, and later served as Assistant President, Vice President, and Discipline Inspection Commission Secretary of the Shenzhen Branch, followed by roles as Deputy General Manager and then General Manager of the Head Office's Credit Management Department.
Sun Lin, the former Vice President of the Beijing Branch, is slated to be transferred to the position of Vice President of the Guangzhou Branch; he previously served as Assistant President of the Beijing Branch and was promoted to Vice President in August 2021.
Furthermore, since the start of 2026, the appointments of several mid-level managers within the Minsheng Bank system have been finalized, including branch vice presidents, a deputy head of the credit card center, and an executive at subsidiary Minsheng Financial Leasing Co.
On January 9th, Liu Yanbo's qualification to serve as Vice President of Minsheng Bank's Beijing Branch was approved. Liu Yanbo previously held positions including General Manager Assistant of the Retail Banking Headquarters and Deputy General Manager of the Wealth Platform Department at China Merchants Bank's head office; he later served as General Manager of the Head Office's E-Finance Department and General Manager of the Personal Finance Department at Minsheng Bank, before being transferred to the role of Deputy Party Secretary of the Beijing Branch at the end of last year. The Beijing Branch is Minsheng Bank's largest branch, with total assets of 954.057 billion yuan and 4,267 employees as of the end of June 2025.
On January 15th, Gu Jiang's qualification to serve as Vice President of Minsheng Bank's Shanghai Free Trade Zone Branch was approved; he formerly served as General Manager of the Nanjing Branch's Financial Markets Department and Deputy General Manager of the Head Office's Financial Markets Department.
On January 16th, Li Zhigang's qualification to serve as Deputy General Manager of Minsheng Bank's Credit Card Center was approved; his previous roles include President of the Taiyuan Qingxu Sub-branch, President of the Qianfeng South Road Sub-branch, Assistant President of the Tianjin Branch, Vice President of the Tianjin Branch, and Vice President of the Hefei Branch. In 2025, the management of Minsheng Bank's Credit Card Center underwent a major reshuffle, welcoming new General Manager Sun Xing and three new Deputy General Managers: Yan Chunzhong, Huang Haijun, and Hu Yuexin. During a period of industry transformation challenges, the scale of Minsheng's credit card business also contracted. As of the end of June 2025, the bank's credit card receivables balance was 449.902 billion yuan, a decrease of 27.345 billion yuan from the end of 2024.
On January 19th, Li Zengxin's qualification to serve as Vice President of Minsheng Financial Leasing was approved; he previously served as Assistant President of the Guiyang Branch and Assistant President of the Yinchuan Branch, before being promoted to Vice President of the Yinchuan Branch in June 2023. Minsheng Financial Leasing is one of the first five bank-affiliated financial leasing companies in China, with a registered capital of 5.095 billion yuan, and Minsheng Bank holds a 54.96% stake. As of the end of June 2025, Minsheng Financial Leasing had total assets of 176.907 billion yuan and a net asset value of 24.322 billion yuan; in the first half of 2025, it achieved operating revenue of 3.017 billion yuan. The above branch information for Minsheng Bank is sourced from the 2025 interim report.
As of the end of June 2025, Minsheng Bank had established 43 primary branches and directly controlled 33 subsidiaries (29 village banks and 4 affiliates); the bank itself had 59,279 employees, while its affiliates had 2,765 employees. Among the bank's staff, 6,176 held management positions, and 53,103 held professional positions. Minsheng Bank's first round of personnel adjustments in the new year reflects a characteristic rotation of cadres between the head office, branches, and subsidiaries. According to Minsheng Bank's ESG report, the bank, centered on its strategic positioning and development goals, has established a "dual-track" career development path comprising professional and management sequences. This provides employees with a career development platform featuring clear channels, open opportunities, fair processes, and scientific evaluation, allowing employees to choose between vertical specialization or horizontal diversification based on their strengths and career plans. For management development, Minsheng Bank continuously optimizes the age and professional structure of its senior executive team. It emphasizes the appointment of talent with strong strategic execution capabilities, professional competence, leadership skills, and proven performance records, aiming to optimally staff the leadership teams of various institutions. The bank also strengthens job rotation and exchange among senior executives at all levels to achieve the goals of serving strategy, allocating based on need, matching people to positions, and optimizing structure.
Simultaneously, the bank reinforces the selection and cultivation of reserve talent, promoting the optimization of the management team's structure. It emphasizes a selection orientation that prioritizes youth, professionalism, a focus on practical achievements and performance, and frontline experience. The bank optimizes selection methods for reserve deputy senior executives and innovates in interview formats to increase candidate participation, experience, and depth of presentation, thereby enhancing the scientific precision of talent selection. It actively organizes job exchanges for reserve talent to strengthen their practical experience in real positions.
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