Changes in senior management of China Merchants Bank: President Tian Huiyu has another appointment, and Executive Vice President Wang Liang presides over the work

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Titan Media App was informed that on the afternoon of April 18, China Merchants Bank held a meeting at around 3 pm on the same day to announce that Tian Huiyu, President of China Merchants Bank, had another appointment, and Wang Liang, Executive Vice President of China Merchants Bank , presided over the work.

On the same day, China Merchants Bank’s share price fluctuated abnormally. It fell by more than 8.6% on the day, and then the decline was slightly increased, and it fell 6.58% by the early close. At midday, it continued to drop, and the decline returned to more than 8%. As of the close, China Merchants Bank’s decline narrowed to 7.35%, but it still recorded the largest decline in years, at 43.39 yuan. In late trading, the turnover exceeded 10 billion yuan, a new high since July 2015.

The rare plunge in China Merchants Bank’s share price has attracted market attention. There are market rumors that Tian Huiyu, the president of the bank, was assisted in the investigation. The investor relations department of China Merchants Bank responded on the morning of the 18th that it has paid attention to the sharp drop in the stock price, and the company is checking the relevant reasons. So far, the bank has not made a specific response to this rumor.

Tian Huiyu has been the president of China Merchants Bank for nine years. According to public information, Tian Huiyu, 56, graduated from Shanghai University of Finance and Economics and Columbia University. Tian Huiyu worked in CCB early in his career; from July 1998 to July 2003, he served as the vice president of China Cinda Asset Management Company Trust and Investment Company; from July 2003 to December 2006, he was transferred as the vice president of Bank of Shanghai.

In December 2006, 41-year-old Tian Huiyu returned to CCB as the vice president of CCB Shanghai Branch. From July 2007 to September 2007, he was transferred to be the main person in charge of CCB Shenzhen Branch, and from September 2007 to March 2011, he served as the President of CCB Shenzhen Branch. From March 2011, Tian Huiyu served as the retail business director of CCB and the main person in charge of Beijing Branch; from April 2011 to May 2013, Tian Huiyu served as the CCB retail business director and president of Beijing Branch.

In May 2013, Ma Weihua, the then president of China Merchants Bank, retired, and Tian Huiyu became the third president of the bank.

During his nine years as president, China Merchants Bank ‘s asset scale, net profit and other key business indicators have grown rapidly.

At the end of 2012, the scale of China Merchants’ assets was 3,408.219 billion yuan, with operating income and net profit of 113.367 billion yuan and 45.273 billion yuan respectively. The 2021 annual report shows that during the reporting period, the bank achieved operating income of 331.253 billion yuan, a year-on-year increase of 14.04%; net profit attributable to shareholders of the bank was 119.922 billion yuan, a significant increase of 23.20% year-on-year, a new high in recent years; non-performing loan ratio 0.91%, a decrease from the end of 2020; the provision coverage ratio was 483.87%, an increase of 46.19 percentage points from the end of 2020.

At present, the total market value of China Merchants Bank’s A-shares exceeds 1 trillion yuan, ranking fifth in the Shanghai stock market, second only to Kweichow Moutai, Industrial and Commercial Bank of China, China Construction Bank and China Mobile. In terms of the number of institutions held, it is second only to Kweichow Moutai.

On April 8, Tian Huiyu delivered a speech at the 35th anniversary cloud ceremony of China Merchants Bank, which may be his latest public event.

Tian Huiyu said, “20 days ago, we just released the 2021 annual report. While the outside world gave high recognition, the most concern is: how does China Merchants Bank maintain its advantages in the current complex environment? We discuss performance, Talk about the model, talk about the culture… But in fact, there is no strategy that can be implemented in one step, and no advantage can be achieved once and for all. Fundamentally speaking, China Merchants Bank can achieve all the achievements today, and all the passwords are hidden in our 100,000 employees In the team of employees, this is also the biggest confidence that China Merchants Bank can overcome the stormy waves in the future!”

It is worth noting that on the 18th, other A-share listed bank stocks also generally fell sharply. Qilu Bank fell the most (-8.45%), Lanzhou Bank (-5.64%), Xiamen Bank (-4.96%), etc. also fell significantly. Ping An Bank and Industrial Bank also posted the biggest intraday declines of more than 3.6%. In addition to bank stocks, brokerage stocks also fell collectively, among which Orient Securities fell by the intraday limit. Caida Securities and Guolian Securities fell more than 9% during the session. Great Wall Securities, Bank of China Securities, Guosheng Financial Holdings, Huachuang Yangan and other stocks fell more than 5% during the session.

In addition to the influence of China Merchants Bank’s involvement in market rumors, there is a view that the reason for the collective plunge in the financial sector is related to the previous central bank’s RRR cut but not as strong as expected. On April 15, the People’s Bank of China announced that it will comprehensively reduce the deposit reserve ratio of financial institutions by 0.25 percentage points on April 25 (excluding financial institutions that have implemented a 5% deposit reserve ratio), releasing about 530 billion yuan of long-term funds. .

Guan Qingyou, a well-known economist and dean of the Rushi Institute of Finance, commented that although this easing is in line with market expectations, it may not be strong enough to reverse the current situation and meet market expectations. .

Guan Qingyou said that this level of RRR reduction “may” play a certain role in stabilizing market confidence, but in the medium and long term, we should still be alert to the risk of capital outflows caused by interest rate inversion. “Stable growth” requires real money, and the toolbox of monetary policy needs to be opened a little bigger.

(Organized by Cai Pengcheng, editor of Titanium Media App)

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