Bank of Hangzhou announces executive resignation, interim leadership

Bank of Hangzhou [SSE:600926] announced the resignation of its Vice Chairman and President, Yu Liming, effective immediately upon submission of his resignation to the board on April 2, 2025. The resignation, attributed to personal reasons, triggered a board decision to appoint Chairman Song Jianbin to temporarily assume the duties of President, until a qualified candidate is approved by regulatory authorities. Amidst these leadership changes, the bank affirmed that its operations remain stable and that the executive transition is not expected to have a substantial impact on its day-to-day management. Concurrently, the bank released its unaudited first-quarter results for 2025, reporting operating income of CNY9.78 billion, a 2.22% increase year-over-year, and net profit attributable to shareholders of CNY6.021 billion, representing a 17.30% increase compared to the same period last year. As of the end of the first quarter, the bank's total assets reached CNY22,202.01 billion, with loans totaling CNY9,951.96 billion and deposits reaching CNY13,487.79 billion. The non-performing loan ratio stands at 0.76%, with a provision coverage ratio of 530.07%. The Bank of Hangzhou board has 11 directors, and this motion passed unanimously.