Xi'an Bank proposes major governance overhaul, eliminating supervisory board

Xi'an Bank Co., Ltd. will hold its third extraordinary general meeting of shareholders for 2025 on September 26, 2025, in Xi'an. Shareholders will vote on proposals to discontinue the supervisory board, with its functions to be assumed by the board of directors' audit committee. This change necessitates the simultaneous abolition of related supervisory board committees and the termination of current supervisory board members' roles.

The meeting will also address revisions to the company's articles of association, reducing the total content from 14 chapters and 272 articles to 13 chapters and 260 articles. These revisions include the removal of all sections pertaining to the supervisory board, aligning with the new corporate governance structure. Additionally, amendments to the rules of procedure for the general meeting of shareholders and the rules of procedure for the board of directors will be presented for approval. These updates aim to streamline governance and enhance operational efficiency.

The proposed changes will take effect upon approval by the shareholders and subsequent ratification by the Shaanxi Regulatory Bureau of the National Financial Regulatory Administration.