Following similar moves at China Everbright Bank, China CITIC Bank has announced a capital increase. The bank recently reported receiving approval from the National Financial Regulatory Administration to change its registered capital, which has increased from approximately RMB 48.935 billion to approximately RMB 55.645 billion, representing a growth of about 13.71%.
Regarding personnel changes, management adjustments have recently taken place within the bank's credit card center, its subsidiaries, and several primary branches. These changes are summarized below.
First, CITIC Financial Asset Investment Ltd. is set to appoint a new Vice President.
Ling Xin, currently the General Manager of the Risk Control Department at CITIC Wealth Management, is slated to become the Vice President of CITIC Financial Asset Investment Ltd. Born in November 1981 and holding a postgraduate degree, Ling Xin began her career at the Hangzhou Branch of CITIC Bank after graduating in 2004. She progressed from a regular staff member to a client manager and eventually to a branch manager, having previously served as Deputy Branch Manager (acting in charge) and then Branch Manager of the Hangzhou Economic and Technological Development Zone Branch. After joining CITIC Wealth Management, she held positions including Head of the Equity Investment Division and General Manager of the Comprehensive Financing Department.
CITIC Wealth Management, a wholly-owned subsidiary of CITIC Bank with a registered capital of RMB 5 billion, reported assets under management of RMB 2.30 trillion by the end of 2025, an increase of 15.23% from the previous year, maintaining its position among the top three in the market. Its operating revenue and net profit for 2025 were RMB 4.408 billion and RMB 2.664 billion, respectively, representing year-on-year growth of 9.37% and 6.93%.
CITIC Financial Asset Investment Ltd. is also a wholly-owned subsidiary of CITIC Bank, with a registered capital of RMB 10 billion and its headquarters in Guangzhou. It is the second joint-stock bank financial asset investment company in China, primarily engaged in market-based debt-to-equity swap operations.
CITIC Financial Asset Investment received approval to commence operations in November 2025. Jiang Dongming, former President of CITIC Bank's Guiyang Branch, serves as Chairman; Wu Wei, former Deputy President of the Shenzhen Branch, serves as President; and Lai Ting, former Deputy President of the Nanning Branch, serves as Vice President. The appointment of this new Vice President further completes the senior management team.
Recently, Chairman Jiang Dongming stated that CITIC Financial Asset Investment is based in Guangdong and serves the entire country. Leveraging the resource advantages of the CITIC Group and its professional AIC license, the company focuses on debt resolution for state-owned enterprises, supports early-stage and small-scale investments, particularly in technology, and aids the growth of high-potential science and technology innovation firms.
Second, personnel adjustments have occurred at several branches.
Meng Chao, Vice President of CITIC Bank (International), has been appointed as the President of the Hong Kong Branch. The former President of the Hong Kong Branch, Zhang Xuqing, has taken up the role of President at the Xiamen Branch.
Meng Chao holds a bachelor's degree from the Urban Construction Department of Nanjing Tech University and a master's degree in International Trade from Nanjing University. With over 22 years of experience in treasury and foreign exchange trading, his previous roles include Head of the Foreign Exchange Trading Department at CITIC Bank's Financial Markets Department, Deputy President of the Shanghai Branch, Deputy General Manager of the Head Office's Financial Markets Department, and General Manager of the Financial Markets Department at CITIC Financial Assets. In April 2025, he was appointed as Deputy Chief Executive and Director of Treasury and Global Markets at CITIC Bank (International).
CITIC Bank (International) is a licensed bank registered in Hong Kong, serving as the primary platform for CITIC Bank's overseas business and cross-border collaboration. By the end of 2025, its total assets reached HKD 546.649 billion, an increase of 12.23% from the previous year. In 2025, it achieved operating revenue of HKD 10.843 billion and a net profit of HKD 3.048 billion, representing year-on-year growth of 2.61% and 11.17%, respectively.
The Hong Kong Branch of CITIC Bank commenced operations in March 2024. In 2025, it reported operating revenue of HKD 23.4817 million. By the end of 2025, the branch's total assets stood at HKD 14.445 billion.
Peng Song, General Manager of the Investment Banking Department at the Shenzhen Branch, has been appointed as a member of the Party Committee of the Shenzhen Branch. His previous roles include General Manager of the Transaction Banking Department at the Shenzhen Branch, President of the Shenzhen City Plaza Flagship Sub-branch, and General Manager of the Investment Banking Department (Science and Technology Innovation Finance Center) at the Shenzhen Branch.
On April 13, the appointment of Weng Jianzhi as Deputy President of the Fuzhou Branch was approved. He previously served as Deputy President of the Quanzhou Branch, General Manager of the Business Department of the Fuzhou Branch, Assistant President and Chief Risk Officer of the Kunming Branch, before returning to the Fuzhou Branch as Assistant President in 2024.
On April 10, the appointment of Meng Fanhui as Deputy President of the Haikou Branch was approved. He previously held positions including Head of the Cross-Border RMB Division and Head of the Trade Finance Division in the International Business Department at the head office, and was appointed Assistant President of the Haikou Branch in September 2024.
Third, the Credit Card Center has promoted a new Vice President.
On April 10, the appointment of Yan Jun as Vice President of the CITIC Bank Credit Card Center was approved.
Yan Jun previously served as Assistant President, Deputy President, and Chief Risk Officer of the Shenzhen Branch. He was appointed Assistant President of the Credit Card Center in November 2024, leading to this recent promotion. Prior to this, the Credit Card Center had already appointed two other Vice Presidents, Mu Yinfang and Zeng Yufang.
According to annual report data, by the end of 2025, the asset size of the CITIC Bank Credit Card Center was RMB 457.592 billion, a decrease of RMB 24.125 billion from the end of the previous year, down approximately 5% year-on-year. The total number of credit cards issued by CITIC Bank reached 129 million, an increase of 4.60% from the end of the previous year.
Against the backdrop of overall industry contraction, CITIC Bank's credit card business has been declining for several years.
At the end of 2025, the outstanding balance of credit card loans was RMB 462.117 billion, a decrease of 5.28% year-on-year. The credit card transaction volume for 2025 was RMB 2.18 trillion, down 10.66% year-on-year. Revenue from the credit card business was RMB 47.749 billion, a decrease of RMB 8.161 billion from the previous year, down 14.60% year-on-year. Since 2023, both the transaction volume and business revenue of CITIC Bank's credit card operations have declined for three consecutive years.
In terms of asset quality, at the end of 2025, non-performing credit card loans stood at RMB 12.118 billion, a decrease of RMB 119 million from the end of the previous year. The non-performing loan ratio was 2.62%, an increase of 0.12 percentage points from the end of the previous year.
Overall, the pre-tax profit of CITIC Bank's retail business has declined for four consecutive years. In 2025, the retail business achieved operating revenue of RMB 79.367 billion, accounting for 37.3% of total operating revenue. Pre-tax profit was RMB 5.303 billion, a decrease of 42.55% year-on-year, accounting for only 6.3% of total profit.
At the 2025 results presentation, CITIC Bank Chairman Fang Heying stated that the bank's emphasis on the development of its retail business remains unchanged. Among this year's development priorities, the bank will continue to insist on the retail sector providing stable contributions. "We are not downgrading its position, but rather entrusting it with the responsibility to overcome challenges," Chairman Fang emphasized.
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