Weekly Bank Overview (3.27—4.3)

LightningPacketLoss · 2026-04-03T18:31:52+00:00

The People's Bank of China has added 12 new digital renminbi business operation institutions to promote inclusive financial services. At the same time, several small and medium-sized banks have lowered deposit interest rates, creating an "interest rate inversion." The six major banks have all achieved revenue and net profit growth, with plans to distribute dividends exceeding 400 billion yuan. China Everbright Bank and Bank of Communications recently corrected errors in their annual report data and announcements. Additionally, China Everbright Bank and Bank of China appointed new vice presidents, and the CFO of China Construction Bank resigned due to age.

LightningPacketLoss

2026-04-03 18:31:52

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Finance Network × Enterprise Alert App

◆ Regulatory Voices

People’s Bank of China Adds 12 Digital Renminbi Business Operating Institutions

On April 2, the People’s Bank of China said that to implement the decision and deployment in the “Fifteenth Five-Year Plan” outline regarding “steadily developing the digital renminbi,” further improve the inclusiveness of digital renminbi services, and continuously respond to public demand for secure, convenient, and efficient digital renminbi services, it has added Citic Bank, China Everbright Bank, Huaxia Bank, China Minsheng Bank, 广发银行, Pudong Development Bank, Zhejiang Commercial Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, and Suzhou Bank as bank-type digital renminbi business operating institutions, and connected them to the central bank-side digital renminbi system. After completing business and technical preparations, the newly added institutions will carry out digital renminbi business. After this expansion, the number of digital renminbi business operating institutions will increase to 22. Previously, a total of 10 digital renminbi operating institutions had been officially approved by the People’s Bank of China.

◆** Industry Watch**

Multiple Small and Medium-Sized Banks Rapidly Cut Deposit Rates; “Rate Inversion” Becomes Widespread

Recently, multiple small and medium-sized banks have seen another wave of deposit interest rate adjustments. Since March, dozens of small and medium-sized banks, including Xinjiang Bank, Yunnan Yuanyuan Beiyin Rural Bank, Heilongjiang Youyi Rural Commercial Bank, Nanjing Pukou Jingfa Rural Bank, and others, have collectively and rapidly lowered their deposit rates for posted deposits. Among them, interest rates on 2-year, 3-year, and 5-year fixed-deposit products have generally dropped to below 2%, marking a formal entry into the “1” range era.

The Six Major Banks’ Revenue and Net Profit Both Increase; 2025 Total Dividend to Exceed 400 Billion RMB

As of March 30, the “scorecards” for 2025 of Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank have been released. In the reporting period, all six major banks achieved a “double increase” in both operating revenue and net profit, earning a total of about 1.42 trillion RMB in net profit, and core operating indicators at multiple banks improved quarter by quarter. In 2025, to support the development of the real economy, the six major banks further optimized the allocation of financial resources. Loan growth in key areas such as technology innovation and inclusive small and micro lending was higher than the average loan growth rate. The six major banks also carried out “large-scale” dividend distributions, rewarding investors with real money; the total planned dividends for the full year exceed 400 billion RMB. Looking ahead to 2026’s business development, management at multiple major banks is expected to remain positive.

◆** Company News**

After an “Annual Report: Two Sets of Data” Mix-Up for Two Days, Everbright Bank Corrects Late at Night on the HKEX

On the evening of April 1, Everbright Bank published two correction announcements on the Hong Kong Stock Exchange (HKEX). It revised the asset scale data of its branch institutions in its 2025 H-share annual report, and simultaneously updated its A-share annual report, so that the four annual-report datasets disclosed by the Shanghai Stock Exchange and HKEX are completely consistent. Previously (on March 30), in its annual reports released on the two exchange venues, the asset scale of some branches showed discrepancies as large as 10 times, but the total number of branches and the total assets of the whole bank remained consistent. Notably, the Shanghai Stock Exchange version had been replaced, and the discrepancy before the replacement matched the initial error in the HKEX version, but the bank did not timely explain or announce the correction. Everbright Bank emphasized that this revision only involves asset scale data for branch institutions and does not affect annual performance or other financial information.

Bank of Communications: Corrects Text Errors in Announcement of 2025 Profit Distribution Plan

In a notice, Bank of Communications said that the “Announcement on the 2025 Profit Distribution Plan” disclosed on March 27, 2026 contained text errors due to insufficient proofreading, and has now been corrected. In the original announcement, the company mistakenly wrote that the cash dividend per share for the full year would be 3.247 RMB; it has been corrected to a cash dividend of 3.247 RMB per 10 shares, with other contents unchanged. The company apologizes for this and commits to strengthening the verification and review of information disclosure.

◆** Financial Appointments and Personnel**

Everbright Bank: Appoints Wang Yongqi as Vice President

Everbright Bank announced that it has recently received the “Approval on Wang Yongqi’s Appointment Qualifications as Vice President of Everbright Bank” from the National Financial Regulatory Administration, which approved Wang Yongqi’s qualifications for the vice president role.

Bank of China: Appoints Huang Xueling as Vice President

Bank of China announced that on March 3, 2026, its board of directors approved the appointment of Ms. Huang Xueling as the bank’s vice president. The National Financial Regulatory Administration has approved her appointment qualifications, and she will assume the role starting March 27, 2026.

China Construction Bank: Chief Financial Officer Sheng Liurong Resigns Due to Age

China Construction Bank announced that Chief Financial Officer Sheng Liurong has resigned for reasons related to age, effective March 31, 2026. Sheng Liurong confirmed that there are no different opinions with the board of directors, has completed the handover arrangements, and expressed thanks to the directors and senior management. The board of directors spoke highly of her contributions and also expressed sincere thanks.

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(Editor: Wang Xinyu)

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