China CITIC Bank President and Executive Director Lu Wei Resigns After 26-Year Tenure

China CITIC Bank ( (HK:0998) ) has issued an update.

China CITIC Bank has announced that executive director and president Lu Wei has resigned from all his positions at the bank, including chairman and member of the Risk Management Committee and member of the Strategic and Sustainable Development Committee, due to a change in work arrangements. The bank stated that Lu has no disagreements with the board or senior management, there are no related disputes, and his departure will not affect the board’s quorum, with all handover procedures completed. Having served the bank for 26 years in key roles across head office, branches, and overseas operations, Lu is credited with major contributions to financial and accounting refinement, capital replenishment, international expansion, risk control, compliance management, and the implementation of national development strategies and the bank’s “Five Leading” initiatives, as the board publicly praised his role in driving high-quality development and improved competitiveness.

The most recent analyst rating on (HK:0998) stock is a Buy with a HK$9.30 price target. To see the full list of analyst forecasts on China CITIC Bank stock, see the HK:0998 Stock Forecast page.

More about China CITIC Bank

China CITIC Bank Corporation Limited is a joint stock commercial bank incorporated in the People’s Republic of China and listed in Hong Kong. The bank provides a broad range of corporate and retail banking services through its head office, branches, and domestic and overseas operations, with a strategic focus on serving the real economy, strengthening risk control and compliance, and enhancing its comprehensive competitiveness and international development.

Average Trading Volume: 27,610,253

Technical Sentiment Signal: Buy

Current Market Cap: HK$437.3B

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