Ningbo Bank "changes leadership" and is set to welcome the youngest chairman of an A-share listed bank.

February 26th, the “leader” among city commercial banks with total assets exceeding 3.6 trillion, Bank of Ningbo, issued a series of personnel change announcements: The ninth Board of Directors decided to elect Zhuang Lingjun as Chairman of the ninth Board and also agreed to appoint Feng Peijiong as the President. Currently, the qualifications of both appointees are pending final approval from Ningbo Regulatory Bureau of the National Financial Regulatory Administration. Before this happens, the Board has designated both to act in their respective roles as chairman and president. With this change in top management, the original chairman, Lu Huayu, who steered Bank of Ningbo for more than twenty years, officially retires upon reaching retirement age. Reportedly, the newly appointed Zhuang Lingjun was born in July 1979 and is a senior executive cultivated from within Bank of Ningbo. Reviewing his resume, Zhuang Lingjun has served as Assistant Manager of the Beilun Branch, Assistant General Manager of the Personal Banking Department at the head office, Vice President of the Shenzhen Branch, General Manager of the Risk Management Department at the head office, and President of the Beijing Branch—holding several key posts. In October 2019, Zhuang Lingjun became Vice President of Bank of Ningbo, officially joining the executive ranks, and in April 2022, took up the position of President. Notably, the youngest current chairman among A-share listed banks is Liang Yanbo of Qingdao Rural Commercial Bank, born in August 1978. Once Zhuang Lingjun's qualification as chairman is officially approved, this record will be broken. At not yet 47 years old, Zhuang Lingjun will become the youngest chairman among A-share listed banks. The newly appointed president, Feng Peijiong, who partners with Zhuang Lingjun, is also a “veteran” of Bank of Ningbo. Records show Feng Peijiong was born in November 1974, served as General Manager of Human Resources at the head office, General Manager of Personal Banking and Credit Card Center, President of Suzhou Branch, and since 2015, has been Vice President of the bank, with extensive cross-department management experience. The full succession by these two “post-70s” executives marks Bank of Ningbo’s formal entry into a new era of younger and more professional management. According to Bank of Ningbo’s recently disclosed 2025 annual performance report, as of the end of 2025, the bank’s total assets reached 3,628.601 billion RMB, up 16.11% from the start of the year, continuing a steady double-digit growth pace. In terms of business performance, Bank of Ningbo maintains strong profit resilience in a complex and volatile macro environment: In 2025, the bank achieved operating income of 71.968 billion RMB, up 8.01% year-on-year; net profit attributable to the shareholders of the parent company was 29.333 billion RMB, an increase of 8.13% year-on-year. This growth rate places it in a relatively leading position among listed banks with disclosed data. From the income structure perspective, the strong performance of light-capital business has become an important growth driver: In 2025, Bank of Ningbo achieved net interest income of 53.161 billion RMB, up 10.77% year-on-year; net fee and commission income reached 6.085 billion RMB, up sharply by 30.72%, further optimizing the business structure. On the core indicator of asset quality, Bank of Ningbo continues to maintain a good level within the industry. As of the end of 2025, the bank’s non-performing loan balance was 13.147 billion RMB, with a non-performing loan ratio stable at 0.76%, unchanged from the previous year; provision coverage ratio reached 373.16%, with sufficient risk compensation capability. With the new management in place, they face not only a solid foundation but also common industry challenges such as overall narrowing net interest margins in banking and structurally shifting real-economy credit demand. On the asset side, with repeated reductions in LPR and overall declining market rates, balancing the “quantity” and “price” of credit issuance and seeking high-yield assets will be real issues for Zhuang Lingjun and Feng Peijiong. The market generally expects Bank of Ningbo to continue relying on the economic vitality of the Yangtze River Delta and Zhejiang area, sticking to its differentiated position that “big banks can't do it well, small banks can't do it.” How the youthful “Zhuang-Feng duo” will steer this 3.6 trillion-city commercial bank giant to further cultivate the real economy and wealth management under risk control, maintaining high growth performance, is awaited by the market. Risk warning and disclaimer The market has risks. Investment should be cautious. This article does not constitute personal investment advice, nor does it consider the special investment goals, financial situation, or needs of individual users. Users should assess whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investing accordingly is at your own risk.