芦苇出任行长8个月跳槽，中信银行董事长“一肩挑”

Core Viewpoint - The resignation of Lu Wei as the president of CITIC Bank after less than a year in office highlights the bank's ongoing operational challenges, including declining revenues and pressure on net interest margins [1][2][3]. Group 1: Leadership Changes - Lu Wei resigned from his positions at CITIC Bank, including executive director and president, due to work adjustments, and was appointed as the president of Postal Savings Bank [1][2]. - Lu Wei had a 26-year career at CITIC Bank, having held various key positions before becoming president in April 2025, with his term originally set to end in April 2028 [1][2][3]. - Chairman Fang Heying will temporarily assume the role of president, bringing extensive experience from his previous leadership roles within CITIC Bank [7][28]. Group 2: Financial Performance - For the first three quarters of 2025, CITIC Bank reported operating income of CNY 156.6 billion, a decrease of 3.46% year-on-year, while net profit attributable to shareholders increased by 3.02% to CNY 53.4 billion [11][32]. - The bank's operating expenses fell to CNY 91.2 billion, down 8.57% year-on-year, indicating effective cost control measures [23][32]. - Credit impairment losses decreased by 12.91% to CNY 44.7 billion, contributing to a rise in operating profit despite declining revenues [12][33]. Group 3: Business Challenges - CITIC Bank faces multiple challenges, including pressure on net interest margins, declining non-interest income, and difficulties in retail banking [2][12][35]. - The bank's net interest income fell by 2.06% to CNY 107.7 billion, with a net interest margin of 1.63%, the largest decline among nine A-share listed banks [12][35]. - Non-interest income decreased by 6.4% to CNY 48.9 billion, with a significant drop in investment income and fair value changes [35][40]. Group 4: Retail Banking Issues - CITIC Bank's retail banking transformation has faced setbacks, with retail banking income stagnating and pre-tax profits declining significantly from 2021 to 2024 [38][39]. - The bank's credit card business has seen a reduction in loan balances and transaction volumes, leading to a 5.91% decline in credit card income for 2024 [19][40]. - Complaints regarding credit card practices, including high fees and aggressive collection methods, have increased, indicating potential reputational risks [19][40].