Plans to apply for the revocation of the private banking license. Bank of Communications: Implementing reforms to the retail sector structure and mechanisms. Existing business remains unaffected.

LightningPacketLoss · 2026-03-29T11:13:01+00:00

Bank of Communications recently plans to apply for the revocation of its private banking license, stating that it will carry out retail sector reforms to strengthen service capabilities. The existing business will not be affected, and the bank also stated that it will continue to be customer-centric and provide high-quality financial services.

LightningPacketLoss

2026-03-29 11:13:01

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Recently, there have been reports that Bank of Communications plans to apply for the cancellation of its private banking license. Public information shows that the private banking department of Bank of Communications was approved for licensing in 2012.

In response, Bank of Communications stated that in order to strengthen its wealth management features and enhance customer service capabilities, it has implemented reforms to the retail sector’s system and structure, which have been approved by the bank’s board of directors. Related organizational adjustments are being carried out in strict accordance with prescribed procedures. The existing private banking services, rights, processes, etc. will not be affected.

Bank of Communications emphasized that it will always adhere to a customer-centric approach and continue to provide higher quality and more efficient financial services. They thank customers and the public for their support and attention to the bank.

(Bank of Communications)

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(Editor: Wang Xinyu)

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