On November 5, Jiangsu Suzhou Rural Commercial Bank Co., Ltd. (Jiangsu Suzhou Rural Commercial Bank) announced that President Zhuang Yingjie resigned due to work adjustments, and the board appointed Wang Liang as the new president. The bank also appointed two post-85s vice presidents, both of whom previously served as department heads.
Zhuang Yingjie's resignation was attributed to work changes. He had held the position since August 23, 2017, exceeding the seven-year rotation requirement for key personnel in banks set by China's banking regulatory authorities. The board praised Zhuang for his dedication and contributions to the bank's sustainable development during his tenure.
Wang Liang, the new president, began his career at China CITIC Bank and later held various senior roles at Jiangsu Suzhou Rural Commercial Bank, including head of investment banking and financial markets. In May 2022, he was transferred to Jiangnan Rural Commercial Bank as vice president and later to Yangzhou Rural Commercial Bank before returning to Jiangsu Suzhou Rural Commercial Bank. His appointment is pending regulatory approval, and he will serve as acting president for up to six months.
The bank also appointed Fei Haibin and Geng Zhi as vice presidents, both born in the 1980s. Fei Haibin, born in July 1986, has extensive experience in branch management and currently serves as head of corporate banking and green finance. Geng Zhi, born in April 1985, holds a master's degree and has worked in risk management and credit approval.
Formerly known as Wujiang Rural Commercial Bank, Jiangsu Suzhou Rural Commercial Bank was restructured in August 2004 and listed on the Shanghai Stock Exchange in November 2016. It is the fourth A-share listed rural commercial bank in China and was renamed in 2019.
Currently, the bank has three vice presidents: Shen Zhichao, Miao Yuchen, and Qiu Ping, all born in the 1970s. With the new appointments, the bank is expected to adopt a leadership structure of one president and five vice presidents, reflecting a younger management team.
According to its latest quarterly report, the bank reported revenue of 3.221 billion yuan in the first three quarters, a slight increase of 0.08% year-on-year. Net profit attributable to shareholders rose 5.01% to 1.708 billion yuan, with non-interest income growing 7.87%, driven by a 30.50% surge in investment income.
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