Apr 18, 2023 04:23 AM

FINANCE

Citic Bank Promotes President Fang Heying to Chairman

By Fan Qianchan and Han Wei

With total assets of 8.5 trillion yuan ($1.5 trillion) as of year-end 2022, Citic Bank is one of 12 joint-stock lenders that operate across China and is a key financial subsidiary of state-owned conglomerate Citic Group

With total assets of 8.5 trillion yuan ($1.5 trillion) as of year-end 2022, Citic Bank is one of 12 joint-stock lenders that operate across China and is a key financial subsidiary of state-owned conglomerate Citic Group

China Citic Bank Corp. Ltd., the country’s seventh-largest lender by assets, named a new chairman and president.

Fang Heying, the bank's president, will become chairman, succeeding Zhu Hexin, who resigned to pursue other work arrangements, the bank said Monday in a statement. Meanwhile, Liu Cheng, who is currently a deputy president, will fill Fang's position as president.

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