Weekly Bank Review (February 23—February 27)

Finance Web × Enterprise Warning App

◆ Voice of Regulation

February LPR Quotes Announced, Unchanged for 9 Consecutive Months

On February 24, the People’s Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) for February 24, 2026, is: 1-year LPR at 3.0%, over 5 years at 3.5%. The LPR has remained unchanged for nine consecutive months.

People’s Bank of China Issues Document Supporting and Regulating Cross-Border RMB Interbank Financing

To enhance the openness of the capital account, develop the offshore RMB market, and improve macroprudential management of cross-border capital flows, on February 26, the People’s Bank of China issued the “Notice on Matters Concerning RMB Cross-Border Interbank Financing by Banking Financial Institutions,” further supporting domestic banking institutions and foreign entities to conduct cross-border RMB interbank financing in a regulated manner. The notice takes effect immediately.

People’s Bank of China Decides to Lower Foreign Exchange Risk Reserve Ratio for Forward Foreign Exchange Sales Business to 0

To promote the development of the foreign exchange market and support enterprises in managing exchange rate risks, the People’s Bank of China has decided that, starting March 2, 2026, the foreign exchange risk reserve ratio for forward foreign exchange sales will be reduced from 20% to 0%. Going forward, the People’s Bank of China will continue guiding financial institutions to optimize their foreign exchange hedging services for enterprises and maintain the RMB exchange rate at a reasonable and balanced level.

◆ Industry Focus

Targeting Year-End Bonuses and Red Envelopes, Bank Wealth Management Enters “Golden Window Period”

As the post-holiday “return to work” wave begins, bank wealth management products are also rapidly launching. As of February 26, more than 10 banks’ wealth management institutions have launched “Start-of-Work Wealth Management” strategies. The products recommended by various institutions mainly remain low-volatility, stable options, with significantly lowered investment thresholds. Several products with a minimum purchase of just 1 yuan are listed. Additionally, the period after the Spring Festival has become an important window for many institutions to introduce new products.

◆ Corporate News

35 New State-Owned Legal Person Shareholders, Hubei Bank Raises 7.614 Billion Yuan in Private Placement

Hubei Bank recently disclosed that it completed the issuance of 1.8 billion shares, raising a total of 7.614 billion yuan. After the change, the total number of shares increased to 9.412 billion, with registered capital rising to 9.412 billion yuan. The issuance involved 53 legal shareholders, including 18 existing legal shareholders and 35 new state-owned legal shareholders. The largest shareholder, Hongtai Group, subscribed to 360 million shares, investing approximately 1.523 billion yuan at the issuance price of 4.23 yuan per share. After the capital increase, Hongtai Group’s shareholding remains at 19.99%.

◆ Personnel Changes in Finance

Changsha Bank: Zhang Man Resigns as President Due to Job Change, Continues as Chairman and Other Roles

On February 25, Changsha Bank announced that the board received Zhang Man’s written resignation. Due to a job change, Zhang Man has resigned as President. She will continue serving as Chairman, Director, Chair of the Strategy and Sustainability Committee, member of the Compensation and Nomination Committee, and member of the Risk Control and Related-Party Transactions Committee. Her original term was set to expire on May 21, 2028. The resignation takes effect from February 24, 2026.

Wang Cheng Approved as President of Sichuan Tianfu Bank

On February 26, the Sichuan Financial Regulatory Bureau approved Wang Cheng’s appointment as President of Sichuan Tianfu Bank.

Approval for Wang Fubiao as Chairman and Wang Zhenfei as Vice President of Great Wall Western China Bank

On February 26, the Sichuan Financial Regulatory Bureau approved Wang Fubiao’s appointment as Director and Chairman of Great Wall Western China Bank, and Wang Zhenfei’s appointment as Vice President.

Ningbo Bank: Elects Zhuang Lingjun as Chairman, Feng Peijiong as President

On February 26, Ningbo Bank announced that its 9th Board of Directors held its first meeting. The board approved the proposal to elect Zhuang Lingjun as Chairman of the 9th Board. Zhuang Lingjun’s appointment as Chairman is subject to approval by Ningbo Financial Regulatory Bureau. The meeting also approved the appointment of Feng Peijiong as President, pending approval by the same bureau.