Bank of Communications names new chairman, redeems 30 bn yuan bonds

Bank of Communications Co., Ltd. held an extraordinary general meeting on September 25, 2025. Shareholders approved the re-election and appointment of several executive, non-executive, and independent non-executive directors, including the re-election of Mr. Ren Deqi as an executive director and Ms. Liu Ruixia as an independent non-executive director. Special resolutions to amend procedural rules were also passed with over two-thirds of votes in favor.

Following the EGM, the board elected Mr. Ren Deqi as chairman and Mr. Zhang Baojiang as vice chairman. Several special committees were established, including the Strategy Committee, Audit Committee, Risk Management and Related Party Transactions Control Committee, Personnel and Remuneration Committee, and Social Responsibility (Environmental, Social and Governance) and Consumer Protection Committee.

Additionally, the Bank of Communications announced amendments to its Articles of Association, approved by the National Administration of Financial Regulation, leading to the cancellation of the Board of Supervisors from September 25, 2025. The Audit Committee will now undertake the supervisors' previous duties. Separately, the bank completed the full redemption of its 30 bn yuan 2020 Undated Capital Bonds on the same date, exercising its redemption right at the end of the fifth year.