Bank of Communications approves 2024 executive compensation, new methodologies

Bank of Communications (BoCom) announced resolutions from its fourth board meeting, held on December 26, 2025. The board approved "Revised Assessment and Distribution Methods for Non-Centrally Managed Senior Management," indicating changes to how compensation is determined for this group. The board also passed the "2024 Director Remuneration Plan," the "2024 Supervisor Remuneration Plan," and the "2024 Senior Management Remuneration Plan," all of which will be submitted for shareholder approval.

Key compensation figures for 2024 include chairman Ren Deqi, who received 115.38 million yuan. Vice chairman and president Zhang Baojiang earned 67.30 million yuan, and executive director and vice president Yin Jiuyong received 105.99 million yuan. The majority of independent directors who received remuneration from the bank were paid between 31 million and 33 million yuan, with some receiving no remuneration. Notably, eight directors with conflicts of interest recused themselves from voting on the director remuneration plan.

Senior management compensation for 2024 saw vice president and chief information officer Qian Bin receive 106.74 million yuan, and board secretary He Zhaobin earn 137.55 million yuan. Total remuneration includes base salary, social insurance, enterprise annuity, supplementary medical insurance, and housing provident fund contributions. The bank noted that some performance-based compensation for senior management is subject to delayed payment based on future operating performance and risk exposure over at least three years.