One of the top financial regulators in the inland province of Jiangxi is set to assume the role of president of Bank of Jiangxi.
Bank of Jiangxi recently announced that its board had approved the appointment of Luo Xiaolin (骆小林) as president, following the departure in October last year of former president Luo Yan (罗焱).
According to domestic media reports Luo Yan’s departure was prompted by “lack of complete unanimity in terms of management style and concepts, vis-a-vis the business development and real needs of the bank.”
Luo Xiaolin’s appointment as president remains contingent upon approval from the China Banking and Insurance Regulatory Commission (CBIRC).
50-year old Luo Xiaolin is a veteran finance official, who most recently served as deputy-head of the Jiangxi province financial regulatory authority from October 2018 to December 2021.
Bank of Jiangxi is the only province-level legal person bank in Jiangxi. It was established at the end of 2015, and in June 2018 was listed in Hong Kong.
In the first half of 2021 Bank of Jiangxi’s operating revenues totalled 5.354 billion yuan, for a decline of 8.15% compared to the same period last year. Net profits attributable to shareholders were 1.33 billion yuan, for a YoY rise of 5.90%.
As of the end of June 2021 the bank’s total assets were 473.261 billion yuan, for a rise of 3.18% compared to the end of the preceding year.