Municipal lender Bank of Hangzhou is set to appoint 51-year old Song Jianbin (宋剑斌) as the new chair of its board of directors.
Bank of Hangzhou announced at the end of September that it would appoint Song to the position of director, contingent upon approval from the Zhejiang province branch of the China Banking and Insurance Regulatory Commission (CBIRC).
Upon his appointment Song will cease to serve as president of Bank of Hangzhou.
Song is a two-decade veteran of the Bank of Hangzhou, having first joined the lender in 2002. He has since served in a variety of roles with the municipal lender, including vice president, chief risk officer, chief information officer and deputy party secretary.
At present, Song is the party secretary, deputy-chair and president of Bank of Hangzhou.
Bank of Hangzhou’s plans to appoint Song arrive after it announced on 9 September the resignation of then director Chen Zhenshan (陈震山). Chen joined the lender in 2014, serving as party secretary and president and overseeing the listing of Bank of Hangzhou on the A-share market.
Bank of Hangzhou was established in September 1996 and launched its A-share IPO in October 2016. The lender has over 200 domestic branches.
In the first half of 2022 Bank of Hangzhou’s operating revenues were 17.302 billion yuan for year-on-year (YoY) growth of 16.3%, while its net profits attributable to shareholders were 6.593 billion yuan, for YoY growth of 31.67%.