Weekly Bank Overview (3.27—4.3)

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◆ Regulatory Updates

The People’s Bank of China adds 12 digital yuan business operating institutions

According to a report from the People’s Bank of China on April 2, to implement the decision and deployment in the “15th Five-Year Plan” outline regarding “steady development of the digital yuan,” further improve the public accessibility of digital yuan services, and continuously respond to the public’s demand for safe, convenient, and efficient digital yuan services, it has added institutions in the form of Citic Bank, China Everbright Bank, Huaxia Bank, China Minsheng Bank, 广发银行, Pudong Development Bank, Zheshang Bank, Ningbo Bank, Jiangsu Bank, Beijing Bank, Nanjing Bank, and Suzhou Bank as digital yuan business operating institutions, and connected them to the PBOC-side digital yuan system. After completing business and technical preparations, the newly added institutions will carry out digital yuan business. After this expansion, the number of digital yuan business operating institutions has expanded to 22. Previously, the number of digital yuan operating institutions formally approved by the People’s Bank of China was 10.

◆** Industry Watch**

Multiple small and mid-sized banks sharply cut deposit rates in succession; “rate inversion” becomes common

Recently, many small and mid-sized banks have entered a new round of deposit rate adjustments. Since March, dozens of small and mid-sized banks, including Xinjiang Bank, Yunnan Yuangjiang Beiyin Rural Commercial Bank, Heilongjiang Youyi Rural Commercial Bank, and Nanjing Pukou Jingfa Rural Town Bank, have collectively and intensively lowered their deposit benchmark挂牌利率. Among them, interest rates for fixed-deposit products with maturities of 2 years, 3 years, and 5 years are generally brought down to below 2%, officially ushering in the “1” handle era.

All six major banks record both revenue and net profit growth; total 2025 dividend is expected to exceed CNY 400 billion

As of March 30, the 2025 “performance reports” of ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank have been released. During the reporting period, all six major banks achieved “double growth” in both operating revenue and net profit, totaling about CNY 1.42 trillion in net profit. Core operating indicators of 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 rates in key areas such as science and technology innovation and inclusive small and micro lending were higher than average loan growth rates. The six major banks also delivered substantial dividends, repaying investors with real money; the amount of dividends proposed for the full year exceeded CNY 400 billion. Looking ahead to 2026’s operating outlook, management at several major banks expects a positive trajectory.

◆** Corporate News**

After a “two sets of data” fiasco for the annual report lasting two days, Everbright Bank corrects it late at night on the HKEX

On the evening of April 1, Everbright Bank published two correction announcements on the Hong Kong Stock Exchange, revising the branch机构 asset size data in its 2025 H-share annual report, and also updating its A-share annual report to ensure that the four annual report data sets disclosed by the SSE and HKEX are completely consistent. Previously (on March 30), in annual reports released at the two exchanges, the asset size of some sub-branches showed discrepancies as large as 10 times; however, the total number of branches and the total asset size of the whole bank remained consistent. Notably, the version at the SSE had been replaced, and the error before replacement matched the initial version at the HKEX, yet the bank did not timely explain or announce the correction. Everbright Bank emphasized that this revision only involves branch机构 asset size data and does not affect annual performance or other financial information.

Bank of Communications: Correction of a textual error in the announcement of the 2025 profit distribution plan

Bank of Communications’ announcement states that due to insufficient proofreading in the “Announcement of the 2025 Profit Distribution Plan” disclosed on March 27, 2026, there is a textual error, which has now been corrected. In the original announcement, the cash dividend per share for the full year was mistakenly written as CNY 3.247; this has been corrected to CNY 3.247 in cash dividend per 10 shares, and all other contents remain unchanged. The company apologizes for this and commits to strengthening the review and reconciliation of information disclosure.

◆** Finance & Personnel**

Everbright Bank: Appointing Wang Yongqi as Vice President

Everbright Bank announced that it has recently received the “Approval on Wang Yongqi’s Appointment as Vice President of Everbright Bank” from the National Financial Regulatory Administration, approving Mr. Wang Yongqi’s appointment as Vice President.

Bank of China: Appointing 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 Vice President of the Bank. The National Financial Regulatory Administration has approved her appointment qualifications, and she will assume the role starting from 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 resigns due to age-related reasons, effective from March 31, 2026. Sheng Liurong confirmed that there is no difference of opinion with the board of directors. She has completed the handover arrangements and expressed thanks to directors and senior management. The board of directors highly values and expresses sincere gratitude for her contributions.

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(Edited by: Wang Xinyu)

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