Deputy President Liu Jing Resigns After Nearly Seven Years, Bank of Lanzhou's Executive Team Adjusted This Year

After serving as deputy president of Bank of Lanzhou for nearly seven years, Liu Jing has resigned from her position. The bank recently announced that Liu will take up a role in a subsidiary, acknowledging her contributions during her tenure.

This year, Bank of Lanzhou has seen executive reshuffles, including the appointment of a new president and three deputy presidents in March, with their qualifications approved by regulators in April.

According to the bank’s Q3 report released on October 30, it recorded "profit growth without revenue growth" in the first three quarters, with a net interest margin slightly above the average for domestic city commercial banks.

Liu Jing, born in 1977, has a long career at Bank of Lanzhou and its predecessor, Lanzhou City Commercial Bank. She held various roles before becoming deputy president in March 2019. During her tenure, the bank went public on the A-share market in January 2022. As of Q3 2024, the bank’s total assets stood at 523.36 billion yuan.

Following her resignation, Liu is set to join the bank’s subsidiary, Gansu Lanyin Financial Leasing Co., Ltd., in which Bank of Lanzhou holds a 60% stake. The subsidiary reported total assets of 7.46 billion yuan and net profit of 58.62 million yuan in H1 2024.

This year’s executive adjustments included the appointment of Liu Min as president and three new deputy presidents—Li Tao, Han Jiajun, and Sheng Baihan—all promoted internally. Former deputy president Wang Yi left in March after completing his term. Currently, the bank has one president and four deputy presidents, including Cheng Yi, appointed in July 2023.

In Q1-Q3 2024, Bank of Lanzhou’s revenue fell 2.14% year-on-year to 5.92 billion yuan, while net profit rose slightly by 0.65% to 1.50 billion yuan. Its net interest margin stood at 1.38%, slightly above the industry average of 1.37%. The bank attributed the lower margin to its liability structure but noted cost-cutting measures have mitigated the impact of declining asset yields.

The bank’s non-performing loan ratio improved to 1.80% by Q3, below the industry average of 1.84%.

With ongoing executive changes, the bank’s future performance, compliance, and market valuation remain under scrutiny.