Financial circles.com, April 23 news. On March 16, the BOC’s board of directors approved the appointment of Chen Huaiyu as the bank’s vice president. On April 21, the Bank of China issued an announcement stating that it had received a reply from the China Banking and Insurance Regulatory Commission to approve Chen Huaiyu’s qualifications. Since April 19, 2021, Chen Huaiyu has been appointed as the vice president of the bank. Since then, the pattern of “one chief and four officers” at the president level of the Bank of China has been formed. Among them, the president is Liu Jin, and the four vice presidents are Wang Wei, Lin Jingzhen, Zheng Guoyu and Chen Huaiyu.
Public information shows that Chen Huaiyu, born in 1970, 51 years old this year, graduated from Beijing Foreign Studies University in 1992, and graduated from University of International Business and Economics in 1999 with a master’s degree in economics. In fact, Chen Huaiyu joined the Bank of China as early as 1997 and is another vice president promoted from within the Bank of China after Lin Jingzhen and Zheng Guoyu.
From November 2017 to February 2021, Chen Huaiyu served as President of the Bank’s Sydney Branch, Director of Bank of China (Australia) Limited, and Director of Bank of China (New Zealand) Limited. Prior to that, he served successively as Assistant to the President and Credit Risk Director of Bank of China Guangdong Branch, Executive Deputy General Manager, General Manager and Executive Director of Bank of China (Hungary) Co., Ltd., and President of Bank of China Hungary Branch.
On March 30, Chen Huaiyu stated at the 2020 annual results conference that the globalization of Bank of China is still in an important period of opportunity. As globalization enters a new stage of development, the Bank of China will take real responsibility during the “14th Five-Year Plan” period. Take up the responsibility of a global bank. At the same time, it will maintain the important proportion of globalization in the group and continue to enhance the comparative advantages of BOC’s globalization.
Bank of China is China’s most globalized and integrated bank, with offices in 61 countries and regions in mainland China and overseas. In terms of asset size, Bank of China ranks fourth among the six state-owned banks. Revenue and net profit are also in the fourth place. Data shows that in the past year, Bank of China achieved operating income of 565.531 billion yuan, a year-on-year increase of 2.98%; net profit attributable to the owners of the parent company was 192.87 billion yuan, a year-on-year increase of 2.92%.
In terms of asset quality, data show that as of the end of 2020, the Bank of China’s total non-performing loans was 207.273 billion yuan, an increase of 29.038 billion yuan from the end of the previous year, and the non-performing loan ratio was 1.46%, an increase of 0.09 percentage points from the end of the previous year. The non-performing loan provision coverage ratio was 177.84%, a decrease of 5.02 percentage points from the end of the previous year.
Chen Huaiyu said, “Looking forward to 2021, China’s economy has taken the lead in the world to resume growth. It is expected that the bank’s credit asset risk will be under control. However, considering the marginal tightening of monetary policy, the withdrawal of support policies for small and medium-sized enterprises, and the lagging impact of the epidemic And other factors, the asset quality of domestic institutions will still be under pressure.”
Source: Financial World Network
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