Wu Chuan has been officially approved as the new president of Liaoshen Bank by regulators, signaling a strategic shift in leadership composition at the institution tasked with systemic consolidation of Liaoning’s city commercial banks.

The appointment comes during a critical phase of Liaoshen Bank’s risk-reform transformation. Earlier this year, former president Yang Fade was promoted to chairman. Wu, 55, brings extensive experience from Liaoning’s rural credit system, having served as chairman of Shenyang Rural Commercial Bank and later as vice chairman of Liaoning Rural Credit Union. His local expertise contrasts with predecessors tied to CM BANK, potentially introducing fresh operational perspectives.

Liaoshen Bank’s executive team has historically leaned on CM BANK alumni, including inaugural chairman Wang Mohan and former president Gong Changlin. However, recent appointments—such as chief information officer Wen Geng and new directors—reflect diversification.

Financially, the bank has faced challenges since its 2021 establishment through the merger of troubled Yingkou Coastal Bank and Liaoyang Bank, initially reporting a net loss of CNY 1.195 billion. Recent data shows gradual improvement: 2024 consolidated revenue reached CNY 167 million, though net losses persisted at CNY 42.42 million. Asset quality improved, with non-performing loans dropping from 6.02% (2021) to 4.14% (2024).

The bank aims to transition from a “normal” to a “healthy” institution by 2027. Its restructuring parallels broader reforms in Liaoning’s financial sector, where multiple city/rural commercial banks are undergoing mergers. Analysts note such consolidation reflects a nationwide trend among regional lenders to strengthen via market-driven restructuring.