Bank of Chengdu(SH:601838) Guan Cha Zhe Wang·2025-08-18 12:39Core Viewpoint - The personnel changes at Chengdu Bank and Chengdu Rural Commercial Bank, involving the exchange of chairpersons, are seen as a strategic move to optimize financial resource allocation in the western region and to enhance the strategic transformation of both banks [1][5]. Group 1: Personnel Changes - Chengdu Bank and Chengdu Rural Commercial Bank announced the exchange of chairpersons, with Wang Hui moving to Chengdu Rural Commercial Bank and Huang Jianjun returning to Chengdu Bank [1]. - This adjustment is significant as it involves the core management of two trillion-level banks, attracting market attention towards their strategic directions [1][5]. Group 2: Performance and Achievements - Under Wang Hui's leadership, Chengdu Bank's asset scale increased from 445.3 billion yuan at the end of 2018 to 1.25 trillion yuan by the end of 2024, with total deposits exceeding 880 billion yuan and loans reaching 740 billion yuan, marking growth rates of 180% and 400% respectively [3][4]. - Chengdu Bank achieved a weighted average return on equity of 17.81% in 2024, maintaining the top position among A-share listed banks for five consecutive years [4]. - Chengdu Rural Commercial Bank, under Huang Jianjun, saw its asset scale grow from 500 billion yuan in 2020 to approximately 983.68 billion yuan by mid-2025, with a reduction in non-performing loan ratio from 1.20% to 1.02% [5]. Group 3: Strategic Directions - The personnel changes are viewed as a key measure for optimizing local financial resource allocation, especially in the context of the construction of a western financial center and the deepening of the Chengdu-Chongqing economic circle [5][6]. - Chengdu Bank is positioned as a leading city commercial bank facing competition from state-owned and joint-stock banks, necessitating a focus on digitalization and retail transformation [5]. - Chengdu Rural Commercial Bank aims to strengthen its service capabilities for the real economy and expand its financial services in rural areas [5][6]. Group 4: Financial Stability - Chengdu Bank reported a 3.17% year-on-year increase in operating income to 5.817 billion yuan and a 5.64% increase in net profit to 3.012 billion yuan in Q1 2025 [6]. - Chengdu Rural Commercial Bank achieved an operating income of 9.537 billion yuan in the first half of the year, reflecting an 8.45% year-on-year growth, with a net profit increase of 7.63% [6].