Industrial Bank Co.,Ltd. (601166) recently announced that it has received approval from the National Financial Regulatory Administration for the appointment of Hao Chao as a Vice President of the company. According to the relevant regulations, Hao Chao assumed the position of Vice President effective May 8, 2026.
Public information shows that Hao Chao, born in the 1970s, has been with Industrial Bank Co.,Ltd. for approximately 20 years, representing a typical example of an internally cultivated executive.
Hao Chao started his career from grassroots positions, accumulating extensive experience in frontline business and branch management. He has successively served as the Party Secretary and President of the Changchun Branch, the Shijiazhuang Branch, the Nanjing Branch, and the Beijing Branch of Industrial Bank Co.,Ltd. His appointment as a Vice President of the bank was proposed in March 2026.
Following Hao Chao's formal appointment, the management structure of Industrial Bank Co.,Ltd. currently consists of one President and six Vice Presidents. As of May 2026, the President of Industrial Bank Co.,Ltd. is Chen Xinjian. The Vice President team comprises the following six individuals: Sun Xiongpeng, Deputy Party Secretary, Executive Director, Vice President, and concurrently Chief Compliance Officer; Vice President Yang Liu; Vice President Zhang Min; Vice President Zhang Ting; Vice President Zeng Xiaoyang; and Vice President Hao Chao.
Industrial Bank Co.,Ltd. places emphasis on the development of its internal talent pipeline. Many of its core executives, including Vice Presidents and the Chief Compliance Officer, typically began their careers in grassroots positions within branch networks, gaining comprehensive experience across frontline operations, regional management, and head office administration.
For instance, the current Vice President Zeng Xiaoyang previously held roles including Assistant to the President of the Jinjiang Sub-branch of the Quanzhou Branch, Head of the Savings and Credit Card Department, General Manager of the Business Development Department, General Manager of the Corporate Business Department, General Manager of the Business Management Department, Assistant President and Vice President of the Quanzhou Branch, President of the Longyan Branch, President of the Wuhan Branch, and General Manager of the Corporate Financial Risk Management Department at the head office, concurrently serving as the Chief Approving Officer for Corporate Financial Credit Business.
Having core executives with deep experience in frontline operational settings such as sub-branches and branches enables the bank to accurately grasp market demands and business pain points, preventing top-level strategy from becoming detached from practical operations and enhancing the pragmatism and feasibility of business decisions.
Furthermore, in the context of refined operations within the banking industry, key regional branches serve as the profit core and strategic implementation pivot for banks, with their importance becoming increasingly prominent. Therefore, executives familiar with branch operations are better positioned to clearly hear the "sounds from the frontline."
For example, in Industrial Bank Co.,Ltd.'s 2025 annual report, the bank repeatedly emphasized the importance of "regions" and "key branches," such as stating that "key regional branches shoulder major responsibilities." The bank continues to deepen its "region + industry" operations, improving the alignment between key branches and mainstream local industries. In 2025, the bank's loans to key national regional industries (the top ten industries by regional industrial revenue) increased by 143.43 billion yuan compared to the end of the previous year, a growth of 20.1%.
On April 29, Industrial Bank Co.,Ltd. released its first-quarter 2026 performance report. The report shows that in the first quarter, the bank achieved operating revenue of 55.09 billion yuan, a decrease of 1.06% year-on-year, although the rate of decline narrowed compared to the same period last year. Net profit was 23.832 billion yuan, representing a year-on-year increase of 0.15%. The net interest margin decreased by 18 basis points to 1.62%.
Regarding asset quality, the bank's non-performing loan (NPL) ratio remained generally stable, but the balance of non-performing loans increased. As of the end of the first quarter, the NPL ratio of Industrial Bank Co.,Ltd. was 1.08%, unchanged from the end of the previous year.
However, the balance of non-performing loans was 66.167 billion yuan, an increase of 1.916 billion yuan from the end of the previous year. The special mention loan ratio was 1.75%, up 0.06 percentage points from the end of the previous year. The bank explained that this was primarily due to factors including a relatively weak macroeconomic recovery, leading to an increased risk of defaults in personal loans.
Nevertheless, risks in key corporate sectors have eased. The newly incurred non-performing loans in the corporate real estate business decreased year-on-year, and the asset quality of local government financing remained stable. The provision coverage ratio stood at 224.52%, maintaining a reasonable and robust level, indicating relatively sufficient risk resilience capacity.
According to Industrial Bank Co.,Ltd., the bank focuses on key areas, key branches, and key projects, further improving mechanisms such as leadership oversight linkage and agile task forces to effectively advance the resolution of risk assets.
Comments