One of China’s big six state-owned lenders has appointed a Bank of China-veteran and former policy-bank head as its new president.
On 25 October Agricultural Bank of China (ABC) announced the appointment of 54 year-old Zhang Qingsong (张青松) as its new president.
Zhang has previously served as the vice-director and president of Exim Bank of China – one of China’s three main policy lenders.
He has also previously held a range of positions at Bank of China (BOC), including chief supervisor of its global financial markets department, chief manager of its Hong Kong branch, chief manager of its Singapore branch, and vice-president and executive director.
The appointment of Zhang arrives following a year-long period during which ABC was without a president, following the departure of former head Zhao Huan (赵欢) to serve as party secretary and chair of the China Development Bank (CDB)
ABC’s latest results indicated that it posted net profits of 181.791 billion yuan for the first three quarters of 2019, for growth of 5.81% compared to the same period last year.