ICBC names new secretary to board, CFO; redeems $2.9 bn preference shares

Industrial & Commercial Bank of China (ICBC) announced on September 30, 2025, that its board of directors approved the appointment of Mr. Tian Fenglin as secretary to the board and senior business director, effective August 29, 2025. Concurrently, Mr. Yao Mingde was appointed chief financial officer and vice president, also effective August 29, 2025. Both appointments have been approved by the National Financial Regulatory Administration. The bank emphasized its commitment to enhancing corporate governance, strengthening risk management, and advancing its strategic initiatives.

In a significant financial move, ICBC redeemed its US dollar offshore preference shares. This redemption, which occurred on September 23, 2025, reduced the number of issued US dollar offshore preference shares to 0, resulting in a decrease in the bank's registered capital by $2,900,000,000. This action reflects the bank's ongoing capital management strategy and impacts its capital structure. The total registered capital of the bank remains RMB 471,406,257,089.

ICBC also released its 2025 Half-Year Social Responsibility and Sustainable Finance Special Report on September 30, 2025. This report, the fifth consecutive half-yearly publication, covers ten areas, including governance, green finance, and digital finance, underscoring the bank's efforts towards sustainable development and supporting national strategies.