Aug 24, 2023 04:49 AM

FINANCE

Former Chief of Bank of Beijing Out of Touch as Regulators Probe Dealings

By Wu Xiaomeng and Han Wei

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With 3.5 trillion yuan ($482 billion) in total assets as of the end of March, the Beijing-based bank is China’s largest city commercial bank and one of 19 systemically important banks in the country

With 3.5 trillion yuan ($482 billion) in total assets as of the end of March, the Beijing-based bank is China’s largest city commercial bank and one of 19 systemically important banks in the country

Yan Bingzhu, the powerful former chairman of Bank of Beijing Co. Ltd., has been out of contact amid swirling speculation that the veteran executive fell under investigation.

Yan, 70, retired from the top position at Bank of Beijing more than six years ago. With 3.5 trillion yuan ($482 billion) in total assets as of the end of March, the Beijing-based bank is China’s largest city commercial bank and one of 19 systemically important banks in the country.

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