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China Fund News reporter Yishan

After more than half a year of acting in office, on July 23, Changshu Bank issued an announcement stating that it had received regulatory approval, and Xue Wen was approved to serve as chairman and Bao Jian was approved to serve as president.

The qualifications of the chairman and president have been approved by the regulator

On July 23, Changshu Bank issued an announcement stating that recently, the bank received the "Approval from the Suzhou Regulatory Bureau of the State Financial Supervision and Administration on Xue Wen's Qualifications" and the "Approval from the Suzhou Regulatory Bureau of the State Financial Supervision and Administration on Bao Jian's Qualifications", approving Xue Wen's qualifications as the chairman of the bank and Bao Jian's qualifications as the president of the bank.

In December last year, Changshu Bank held the first meeting of the eighth board of directors, elected Xue Wen as the chairman of the eighth board of directors, and appointed Bao Jian as the president.

According to his resume, Xue Wen was born in March 1974. He served successively as clerk of Xieqiao Credit Union in Changshu City, clerk of Xieqiao Branch of Changshu Bank, assistant president and vice president (in charge of work) of Xieqiao Branch and Development Zone Branch, president of Xieqiao Branch, president of China Merchants Branch, vice president of Lianyungang Oriental Rural Commercial Bank, member of the Party Committee, vice president, financial director, deputy secretary of the Party Committee and president of Changshu Bank. He is currently the secretary of the Party Committee and chairman of Changshu Bank.

Bao Jian was born in October 1981. He has served as a teller, credit clerk, account manager, business development department clerk, office clerk, corporate banking department clerk, microfinance center clerk, assistant to general manager, assistant to general manager and deputy general manager of investment banking and interbank department of Suzhou Branch of Nanjing Bank, general manager of investment banking department of Changshu Bank, general manager of bill business department, general manager of interbank finance department, president of corporate banking headquarters, member of the party committee and deputy president, member of the party committee and deputy president of Jiangnan Rural Commercial Bank. He is currently the deputy secretary of the party committee and president of Changshu Bank.

Revenue and net profit both increased in the first quarter

According to the data, Changshu Bank was restructured and established on November 28, 2001. It is one of the first joint-stock rural financial institutions in the country and was listed on the Shanghai Stock Exchange in September 2016. In September 2019, the bank initiated the establishment of the country's first investment management-type village bank in Haikou City, Hainan Province, and intensively managed 32 Xingfu village banks in six provinces, including Yunnan, Hubei, Jiangsu, Henan, Hainan and Guangdong.

In the first quarter of this year, Changshu Bank achieved operating income of 2.7 billion yuan, a year-on-year increase of 12.01%; net profit attributable to the parent company was 952 million yuan, a year-on-year increase of 19.8%. As of the end of the period, total assets were 364.676 billion yuan, an increase of 9.04% from the end of the previous year.

In terms of asset quality, as of the end of the first quarter, the bank's non-performing loan ratio was 0.76%, an increase of 0.01 percentage point from the end of last year; the provision coverage ratio was 539.18%, an increase of 1.3 percentage points from the end of last year.

As of press time, Changshu Bank was trading at 7.43 yuan per share, down 0.93%, with a latest market value of 22.4 billion yuan.

Editor: Joey

Audit: Wooden Fish

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