CITIC Bank has appointed a new risk director.
The change was initially announced in late September when Hu Gang stepped down as risk director due to work arrangements. After resigning from the role, Hu retained his positions as executive director and deputy president of the bank.
Replacing him is Jin Xinian, whose appointment as risk director was approved by regulators three months after the board's initial decision.
In terms of experience, Hu Gang, aged 58, has a longer tenure at CITIC Bank and more extensive operational expertise. He previously served as the bank's chief risk officer from May 2013 to May 2014. Over the past few years, Hu's compensation has consistently exceeded industry averages, surpassing 2.2 million yuan in both 2023 and 2024.
Jin Xinian, aged 54, joined CITIC Bank in 2017 and has eight years of experience at the institution. He was appointed head of the credit execution department in November 2024 and became deputy president in August 2025, indicating a relatively recent entry into the core management team.
This shift suggests a new strategic approach to risk management at CITIC Bank.
Examining the bank's asset quality: As of the end of September 2025, non-performing loans stood at 66.939 billion yuan, an increase of 454 million yuan from the previous year-end. The non-performing loan ratio remained stable at 1.16%, while the provision coverage ratio declined by 5.27 percentage points to 204.16%. The loan provision ratio also decreased slightly to 2.36%.
Additionally, the liquidity coverage ratio dropped sharply from 218.13% to 127.6% year-on-year.
By the end of Q3 2025, CITIC Bank's core Tier 1 capital adequacy ratio was 9.59%, down 0.13 percentage points from the previous year-end. The Tier 1 capital adequacy ratio fell to 11.03%, and the overall capital adequacy ratio declined to 13.01%.
Despite asset growth, improving asset quality remains a priority for the bank.
This year has seen a broader reshuffle in CITIC Bank's leadership. Lu Wei, former chairman of CITIC Trust, returned to the bank as president in April, while former deputy president Lü Tiangui resigned to assume the role of CITIC Trust chairman.
The new leadership duo consists of Chairman Fang Heying and President Lu Wei. At the mid-2025 earnings conference, Lu, born in the 1970s, outlined a strategic shift: "We have moved away from a growth-at-all-costs mentality, focusing instead on balanced growth that prioritizes both efficiency and quality—this underpins our performance."
Latest financial reports show that CITIC Bank's net profit rose while revenue declined in the first three quarters of 2025. Net profit attributable to shareholders increased 3.02% year-on-year to 53.391 billion yuan, while operating income fell 3.46% to 156.598 billion yuan.
Net interest income dropped 2.06% to 107.702 billion yuan, with the net interest margin shrinking to 1.63%. Non-interest income declined 6.40% to 48.896 billion yuan.
Cost control contributed to profitability, with operating expenses decreasing 4.17% to 44.753 billion yuan. The cost-to-income ratio improved to 28.58%.
As of September 2025, CITIC Bank's total assets reached 9.898128 trillion yuan, up 3.83% from the previous year-end, nearing the 10 trillion yuan milestone. Loans and advances totaled 5.782481 trillion yuan, increasing by 62.353 billion yuan.
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