A leadership transition is underway at the trillion-yuan city commercial bank.
On December 19, Bank Of Changsha Co.,Ltd. (601577.SH) announced that Chairman Zhao Xiaozhong resigned due to reaching retirement age. The board simultaneously elected current President Zhang Man as the new chairperson candidate. Her appointment awaits approval from the Hunan Local Bureau of the National Financial Regulatory Administration, during which Zhang will temporarily assume the chairman’s duties.
Notably, Zhang Man is poised to become the only serving female chairperson among A-share city commercial banks upon regulatory approval. Among A-share listed banks, Jiangyin Bank Chairwoman Song Ping is currently the only other female leader, heading a rural commercial bank.
As Hunan’s largest corporate financial institution and its first listed bank, Bank Of Changsha Co.,Ltd. was founded on May 25, 1997, and went public on the Shanghai Stock Exchange’s main board on September 26, 2018. By the end of 2024, the bank operated 13 branches (including Guangzhou), 17 direct branches in Changsha, and held controlling stakes in Xiangxi Changxing Rural Bank and Yizhang Changxing Rural Bank. It also established Hunan’s first consumer finance company—Changyin Wuba Consumer Finance—and launched Hunan Changyin Digital Technology Co., Ltd., with 411 licensed outlets achieving full coverage across Hunan’s counties.
Zhao Xiaozhong, a founding figure who joined at the bank’s inception, served as president from September 2015 and became Party secretary and chairman in December 2021. The bank credited him with laying a solid foundation for high-quality development through strategic vision and pragmatic leadership.
The board swiftly moved to elect Zhang Man as the eighth-term chairperson candidate on December 19. Her tenure will begin upon regulatory approval. Pending formal approval, she will act as interim chairperson by unanimous board nomination.
Zhang Man, born in May 1972, holds a bachelor’s degree and an MBA, with mid-level accounting and economics qualifications. Her career began at Agricultural Bank of China’s Changsha County branch, where she held roles including deputy head of operations and client services before joining Bank Of Changsha Co.,Ltd. She rose through ranks to become vice president in January 2019 and assumed the presidency in September 2024.
As of Q3 2025, the bank reported total assets of ¥1.24 trillion (up 8.45% YoY), deposits of ¥749.76 billion (up 3.70%), and loans of ¥606.53 billion (up 11.27%). Revenue reached ¥19.72 billion (+1.29% YoY), with net profit attributable to shareholders at ¥6.56 billion (+6.00%).
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