Jiangsu Changshu Rural Commercial Bank Co.,Ltd. (601128.SH) has appointed Lu Dingchang, aged 39, as its new president and chief compliance officer, making him the youngest president among A-share listed banks.
Lu succeeds Bao Jian, who resigned due to work adjustments. The appointment is pending approval from the Suzhou branch of the National Financial Regulatory Administration.
Lu, an internal veteran of the bank, has risen through the ranks, holding various positions including deputy general manager of the microfinance division and vice president. His promotion reflects a broader trend of younger leadership in China's rural commercial banks.
The bank reported steady growth in Q1-Q3 2025, with operating income reaching RMB9.052 billion (up 8.15% YoY) and net profit attributable to shareholders at RMB3.357 billion (up 12.82% YoY). However, Q3 revenue growth slowed to 4.41%, the lowest since 2021.
As of September 2025, the bank's total assets stood at RMB402.23 billion, up 9.72% from year-end 2024. Its capital adequacy ratio declined from 14.19% to 13.66% over the same period, prompting plans to issue RMB5 billion in tier-2 capital bonds to replenish capital.
The bank has been actively consolidating rural banks and expanding its footprint, including mergers of three rural banks in Jiangsu’s Huaian region. Meanwhile, its second-largest shareholder increased its stake by 0.17% to 3.98% through recent purchases.
Despite narrowing net interest margins (down 0.14 ppt to 2.57%), the bank maintains leading industry metrics through optimized deposit structures and cost controls.
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