China News Service, Chengdu, June 12 (Du Cheng) According to the Hong Kong Stock Exchange on the 12th: Bank of Luzhou (01983.HK), the first listed bank in a prefecture-level city in the western region, recently issued an announcement stating that the bank’s board of directors received President Xu Xianzhong resigned in writing, and Xu Xianzhong resigned from the President and other related posts due to personal reasons.
As soon as the news came out, it attracted great attention from investors and the industry.
Relevant information shows that Xu Xianzhong is 51 years old this year. He joined Luzhou Bank as a candidate for deputy governor in August 2010 and has served as the governor of Luzhou Bank since August 2011.
Before joining Luzhou Bank, Xu Xianzhong worked at ICBC for nearly 19 years, and served as the vice president of ICBC Guangyuan branch and vice president of ICBC Neijiang branch.
On the 13th of last month, the board of directors of Luzhou Bank also received a written resignation from Ms. Liu Anyuan, a non-executive director of the bank: Liu Anyuan resigned as a non-executive director of the bank, the audit committee of the board of directors, and a member of the consumer rights protection committee of the board.
In less than a month, two senior executives, including the president, resigned one after another. Why did the board of directors of Luzhou Bank undergo such a personnel change?
Is it related to the bank’s poor operating conditions in the past two years?
Suddenly caused speculation in the industry.
According to the 2020 annual report of the Bank of Luzhou, the bank will continue the situation of “increasing revenue but not profit” in 2020, and its net profit has shown a decline for two consecutive years.
The annual report revealed that in 2020, Luzhou Bank achieved operating income of 3.155 billion yuan, an increase of 12.40% year-on-year; net profit of 576 million yuan, a year-on-year decrease of 9.12%.
According to the 2019 annual report, Luzhou Bank achieved operating income of 2.807 billion yuan in 2019, an increase of 45.11% year-on-year; net profit of 634 million yuan, a year-on-year decrease of 3.71%.
Public information shows that Luzhou Bank was established in September 1997 and is a state-owned enterprise in Luzhou. Its main shareholders include Luzhou Laojiao Group, Luzhou Finance Bureau, and Sichuan Jiale Enterprise Group.
In December 2018, Luzhou Bank was listed on the main board of the Hong Kong Stock Exchange and was the first listed bank in a prefecture-level city in the western region.