CITIC Bank shareholders approve director appointments, extend stock issuance authority

China CITIC Bank Corporation Limited (SSE: 601998) announced the resolutions passed at its first Extraordinary General Meeting of Shareholders, along with the outcomes of its A and H shareholders class meetings, all held on March 25, 2025. A key resolution approved was the extension of the authorization granted to the board of directors and its authorized personnel to manage matters related to the proposed stock issuance, as confirmed in separate A and H shareholders class meetings. In other business, shareholders voted on the election of members to the seventh session of the board. Key appointments included Lu Wei as an executive director and Fu Yamin as a non-executive director. A review of the bank's operational and risk management also took place, as the board greenlit reports on internal capital adequacy assessment, liquidity risk management, operational risk management, and interest rate risk in the banking book for 2024. The board also approved the 2024 consolidated management implementation report and the 2024 report on the management of major shareholders and equity. Furthermore, the board approved the 2024 case risk prevention and control and employee behavior management self-assessment report, and a 2025 IT outsourcing technology service investment plan.