The sudden resignation of

2022-05-08 0 By

The board of Directors of Huaxia Bank Co LTD (HUaxia Bank) has received a written resignation report from Zhang Jianhua, the bank said in a statement on February 17.Due to job changes, Jianhua Zhang resigned as the executive director, president, chairman of the Risk and Compliance Management Committee of the Board of Directors, and member of the Strategic Development and Consumer Rights Protection Committee of the Board of Directors.Huaxia bank, said zhang jianhua in the tenure fulfill his duties and for the reform and development of the company paid a hard efforts, in promote the development of planning implementation, advance the management transformation, strengthen asset quality control, enhance the level of management and so on have done a lot of fruitful work, for the company made a major contribution to the development of high quality.The Board would like to thank him for his significant contribution.Until the appointment of the new President by the Board of Directors and his qualifications are approved by the China Banking and Insurance Regulatory Commission, the Board of Directors shall designate Chairman Li Minji to perform the functions of the President on his behalf.It is understood that on April 14, 2017, the CBRC approved Zhang Jianhua to serve as director and president of Huaxia Bank.Zhang jianhua had worked at Huaxia Bank for nearly five years before leaving.As for Zhang’s future, it is reported that zhang jianhua will join tsinghua University’s Wudaokou Institute of Finance after his resignation, but the specific position has not been determined.Information shows that Zhang Jianhua was born in 1956, for the doctor of management, previously served as the People’s Bank of China non-bank financial institutions supervision department financial leasing company supervision department deputy director, director;Director of Supervision Division 3, Supervision Department of Non-bank Financial Institutions, PBC;Director of Fiscal and Tax Research Division, Research Bureau of the People’s Bank of China;Deputy Director of the Financial Stability Bureau of the People’s Bank of China;Director of the Research Bureau of the People’s Bank of China;Secretary of the Party Committee of Hangzhou Central Sub-Branch of the People’s Bank of China, President and Director of Zhejiang Branch of the State Administration of Foreign Exchange;In 2015, Zhang left the central bank to work as deputy Party secretary, director and president of Beijing Rural Commercial Bank.In terms of executive compensation, Zhang jianhua will earn 659,900 yuan in 2020.It is worth noting that huaxia Bank also announced a major personnel change 10 days ago, with its vice chairman stepping down.Luo Ganyi, vice chairman of Huaxia Bank, resigned as vice chairman, director and member of relevant committee of the board of directors due to work reasons, the bank said in a statement on Feb. 7.Within ten days, two important figures at Huaxia Bank have left.But in fact, since last year, huaxia Bank management began to see frequent changes, so far there have been nine senior “departure”.On May 25, 2021, Xie Yiqun resigned as a director and member of the relevant special committee of the Board of Directors of Huaxia Bank due to work reasons.On October 28, Li Zhuyong, a non-executive director of Huaxia Bank, submitted his resignation to the bank.Subsequently, on November 4, Huaxia Bank released a notice showing that Sun Tongjun, the employee supervisor of Huaxia Bank, resigned as the employee supervisor of Huaxia Bank and a member of the relevant committee of the Board of Supervisors due to his age.Sun Tongjun, 61, is the oldest member of the supervisory board and was paid about 2.14 million yuan in 2020, far more than the president and vice presidents.In addition, Huaxia Bank also received frequent fines from the Central bank and the Banking and Insurance Regulatory Commission.The Shanghai branch of Huaxia Bank Co., LTD was ordered by the China Banking Regulatory Commission (CBRC) to rectify the situation and fined 3.2 million yuan, according to the CBRC’s administrative penalty information disclosure form no.5 (2022) released on its website on February 8.Those responsible have also been warned.After investigation, Huaxia Bank Shanghai Branch and its branches have the following illegal behaviors: 1. In December 2018, they issued working capital loans to repay advances made by bank acceptance bills and covered up non-performing assets.2. In March 2020, the issuance of personal business loan was illegally used for house purchase.3. In May 2020, the personal business loan was illegally distributed into the capital market.4. In March 2020, the examination of the down payment funds of individual housing loans seriously violated the prudential operation rules.5. In December 2019, some credit granting enterprises were not included in the unified credit granting management of group customers.6. In June and August 2019, the deposits and loans were falsely increased.7. In July 2018, the working capital loan was illegally used for fixed asset investment.8. In August 2019 and January 2020, working capital loan payment management seriously violated prudential operation rules.Earlier, the Consumer Rights and Interests Protection Bureau of THE China Banking And Insurance Regulatory Commission (CBRC) reported on huaxia Bank’s violation of consumer rights and interests, accusing the bank of seven types of violation of consumer rights and interests, including: the Internet loan interest rate publicity is not standardized, infringement of consumers’ right to know;Improper management, selling products higher than their risk tolerance to individual customers, infringing on the right to property security of consumers;Sell personal accident insurance to individual loan customers, infringe on consumers’ independent choice;Standard contracts force customers to accept cross-selling and violate consumers’ right to fair trade;Search, store, transmit and use personal customer information in violation of consumer information security rights;Collecting fees from individual customers in violation of regulations;Unlawfully passing on costs to loan customers.China Banking and Insurance Regulatory Commission (CBRC) has ordered Huaxia Bank to rectify the violations, which seriously infringed on consumers’ rights to know, property security, independent choice, fair trade, information security and other basic rights, the circular said.Last year, Huaxia Bank was fined 98.3 million yuan for 27 violations of laws and regulations, setting a new record.The Branch of Huaxia Bank has also received a million fines from the Banking and insurance Regulatory Commission.In addition, due to the unauthorized transfer of Kaisa Yuefeng house, Huaxia Bank was recently blocked by the local housing bureau.On January 6, Foshan Housing and Urban-Rural Development Bureau issued a notice to suspend the signing of special account supervision agreement with Huaxia Bank Co., LTD.Notice pointed out that the foshan branch of Huaxia Bank Co., LTD., without the consent of the regulatory parties, arbitrarily transferred commercial housing pre-sale funds from the special account, in violation of the relevant provisions, after repeated interview and warning still refused to correct, causing a bad impact on the real estate market in Foshan.Public information shows that Huaxia Bank was founded in Beijing in October 1992. In September 2003, huaxia Bank made an initial public offering and went public. It is the fifth national joint-stock commercial bank to be listed in China.By the end of 2020, Huaxia Bank has set up 44 first-level branches and 79 second-level branches in 122 cities at or above the prefecture-level nationwide, with 1,022 business outlets and nearly 40,000 employees, forming an institutional system that “bases itself in economically developed cities and radiates to the whole country”.In July 2021, Huaxia Bank ranked 51st in the world in terms of tier 1 capital in the Banker’s Global 1000 rankings.According to the bank’s quarterly report of 2021, by the end of September 2021, the total assets of Huaxia Bank were 3,549,265 billion yuan, an increase of 4.40% compared with the end of 2020.The bank achieved operating revenue of 72.493 billion yuan, up 2.60% year on year;Net profit attributable to shareholders of listed companies was 16.195 billion yuan, up 14.70% year-on-year.In terms of asset quality, by the end of the third quarter, the outstanding non-performing loan of Huaxia Bank was 38.703 billion yuan, with a year-on-year growth of 1.91%;The non-performing loan ratio was 1.78%, down 0.02% year on year.However, this figure is relatively high among stock banks.In terms of share price performance, Huaxia Bank’s share price has been in a volatile state. Up to now, its share price is 5.78 yuan, with a total market value of 88.938 billion yuan.New Evening Comprehensive China Fund News, 21st Century Business Herald all rights reserved