This update focuses on personnel changes at the head office of Industrial Bank Co.,Ltd. (ASX: 601166), involving deputy general managers across several middle and back-office departments such as finance, risk, approval, operations, and administration.
Additionally, management adjustments have occurred at two of the bank's subsidiaries, Industrial Bank Asset Management and Industrial Bank Digital Finance.
Head Office Divisions
Wu Minqing, Deputy General Manager of the Wealth Management Department, has been appointed Deputy General Manager of the Private Banking Department. She previously served as Deputy General Manager of the Retail Wealth Business Center and as Assistant General Manager of the Retail Wealth and Liability Management Department at the head office.
Jiang Haining, Deputy General Manager of the Planning and Finance Department, will additionally serve as Director of the Department's Asset and Liability Management Center. Born in 1981, Jiang has held various positions including Deputy Division Chief in Product & Market Development and Marketing Development within the SME Business Department of the Corporate Finance Headquarters, Division Chief and Assistant General Manager in the SME Department, and Assistant General Manager and Deputy General Manager in the Head Office Planning and Finance Department. He currently also serves as a director for Industrial Bank Financial Leasing and Industrial Bank Asset Management.
Sun Junming, Deputy General Manager of the Planning and Finance Department and Director of the Asset and Liability Management Center, has been appointed Deputy General Manager of the Financial Market Risk Management Department. He previously served as Assistant General Manager of the Planning and Finance Department.
Chen Zhihong, Deputy General Manager of the Administrative and Logistics Department and Director of the Centralized Procurement Center, has been appointed Deputy General Manager of the Planning and Finance Department.
Mei Qiang, Deputy General Manager of the Credit Approval Department, is slated to become Deputy General Manager of the Administrative and Logistics Department. His previous roles include Deputy President and Secretary of the Discipline Inspection Commission at the Taiyuan Branch, General Manager of the Shenyang Audit Office, and Deputy General Manager of the Corporate Finance Risk Management Department at the head office.
Zhu Zhanbin, Assistant General Manager of the Operations Management/Digital RMB Department, has been promoted to Deputy General Manager of the department. He formerly served as Division Chief for Payment and Settlement Management within the Head Office Operations Management Department.
Chen Xi, Assistant General Manager of the Data Center, has been appointed Deputy General Manager of the Technology Operations and Maintenance Center.
Guo Haiying, Deputy General Manager of the Shanghai Audit Office, has been appointed a Business Inspector within the Audit Department.
Huang Shihua, a Division Chief within the Credit Approval Department, has been appointed Assistant General Manager of the Credit Approval Department.
The latest organizational chart indicates that the head office's Credit Approval Department and Credit Management Department were newly established last year.
According to its annual report, in 2025, the bank undertook reforms to its risk management system and mechanisms. Structurally, it shifted from embedded risk management to a dispatched risk model, with the risk management division strengthening guidance, liaison, service, and performance evaluation for dispatched units. Professionally, it restructured the credit business authorization framework, streamlined and optimized authorization rules, while deepening its "region + industry" strategy to better integrate business with research.
In the first quarter of 2026, the bank further refined its comprehensive risk management system, strengthened risk prevention and control in key areas, and accelerated the digital and intelligent transformation of risk management. Asset quality remained stable, with the non-performing loan ratio standing at 1.08% at the end of Q1, unchanged from the end of the previous year and consistently better than industry peers. The provision coverage ratio was 224.52%, maintaining a reasonable and robust level with ample risk resilience.
Subsidiary Changes
Firstly, Li Zujing, Secretary of the Discipline Inspection Commission at Industrial Bank Asset Management, has been appointed Vice President of the subsidiary. Born in 1982, Li has held various positions including roles in the Comprehensive Management Division of the Board of Directors and Supervisory Board Office, the Comprehensive Division of the General Office, and business management roles in the Fujian Corporate Business Division of the Corporate Finance Business Management Department at the head office. At Industrial Bank Asset Management, he served as Deputy General Manager (acting head) and later General Manager of the Comprehensive Management Department, before becoming Assistant President in August 2024.
Industrial Bank Asset Management Co., Ltd., a first-tier subsidiary established in February 2017, is the first local asset management company with bank background in China. It is wholly owned by Industrial Bank Guoxin Asset Management Co., Ltd., with a registered capital of 1.95 billion yuan.
As of the end of 2025, the subsidiary's total assets were 24.782 billion yuan. In 2025, it achieved net operating income of 449 million yuan, a year-on-year increase of 20.44%, and net profit of 79 million yuan, a significant year-on-year increase of 253.78%. Financing costs were effectively reduced, with the average interest rate on interest-bearing liabilities at 2.6%, down 40 basis points from the previous year.
The subsidiary's primary operational objective is to prevent and resolve regional financial and real economy risks, focusing on its core business of special asset management. It continues to optimize and strengthen its non-performing asset acquisition, management, and disposal operations. In 2025, it deployed 3.883 billion yuan in special asset management business, of which 2.488 billion yuan was for non-performing asset acquisitions, with cumulative funds recouped reaching 5.078 billion yuan.
Secondly, Zheng Zizhou, Technology Director at Industrial Bank Digital Finance, has been appointed Assistant President of the subsidiary.
Zheng has previously served as General Manager of the Cloud Computing Business Division, General Manager of the RPA Business Division, and Director of the Application Innovation Center at Industrial Bank Digital Finance.
Industrial Bank Digital Financial Services (Shanghai) Co., Ltd. was established in November 2015 with a registered capital of 255 million yuan. As an indirectly controlled subsidiary of Industrial Bank, it is the first bank-affiliated fintech company in China. Its business scope includes financial data processing, economic information consulting, application software development and operation, and system integration services.
The company is a key component of the bank's "One Committee, Three Departments, One Company, One Academy" technology architecture, primarily responsible for technology research and development, digital innovation to enhance the group's information service levels, and providing digital transformation solutions for industry peers.
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