The China Zheshang Bank Co.,Ltd. (ASX: 601916) announced on June 3rd that it has received approval from the National Financial Regulatory Administration for the appointments of Zhou Weixin and Pan Huafeng as vice presidents of the bank.

With their formal appointments, the previously vacant vice president positions at the bank have been filled, further completing its senior management team.

Following these approvals, the bank's management structure now consists of Chairman Chen Haiqiang, President Lu Linhua, and four vice presidents: Jing Feng, Luo Feng, Zhou Weixin, and Pan Huafeng.

For CZBANK (ASX: 02016), which has been actively promoting its business transformation in recent years, this represents a significant strengthening of its core management configuration.

Both new vice presidents have risen through the ranks of the bank and were previously serving as president assistants.

Zhou Weixin brings extensive experience in cross-regional management at major state-owned banks and local government work.

His career began at Bank of China, where he held positions including President of the Zhoushan Branch, General Manager of Risk Management and Personal Finance Departments at the Zhejiang Branch, and Vice President of the Anhui Branch, with long-term expertise in risk control, retail finance, and branch operations management.

After joining CZBANK, he served as President of the Zhejiang Business Headquarters, overseeing the bank's core business development in its home province.

Pan Huafeng is a seasoned risk control expert who has advanced from grassroots positions.

He also hails from the Bank of China system, having served in various roles at its Ningbo Branch, including Deputy Section Chief and Section Chief in credit and risk management departments, Vice President of the Yinzhou Sub-branch, and Deputy Director and Director of the branch's risk management department.

After joining China Zheshang Bank Co.,Ltd., he held positions such as Risk Monitoring Officer, President Assistant, Vice President, Party Committee Secretary, and President of the Ningbo Branch, later promoted to General Manager of the Head Office's Risk Management Department and New Capital Office, and served as President Assistant and Chief Risk Officer.

At a time when commercial banks generally face pressure on asset quality management, his comprehensive hands-on and managerial experience in risk control is crucial for safeguarding asset quality.

The appointments of these two vice presidents align with the bank's current operational priorities.

As a national joint-stock commercial bank headquartered in Zhejiang, CZBANK has been advancing a strategic transformation guided by "Benevolent Finance," focusing on four strategic pillars: deepening its presence in Zhejiang, promoting sectoral synergy, digital reform, and wealth management, while comprehensively launching customer-centric integrated synergy reforms.

As its asset scale continues to expand, balancing growth with risk and improving operational efficiency remain ongoing challenges for management.

Operational data shows that as of the end of 2025, the bank's total assets reached 3.48 trillion yuan.

Simultaneously, the banking sector remains in a cycle of narrowing net interest margins, compressing profitability in traditional credit businesses and elevating the importance of integrated operations and fee-based income. Furthermore, professional risk management capabilities are continually tested during the prevention and control of risks in key areas.

In this context, the elevation of two executives with backgrounds in cross-regional integrated management and comprehensive risk control to vice president roles is seen as a key arrangement to further strengthen the bank's capabilities in business development and risk management.

Looking back over the past year, China Zheshang Bank Co.,Ltd.'s management has undergone systematic adjustments. With the approval of the two vice presidents, the bank's management team, predominantly composed of individuals born in the 1970s, has now largely taken shape.

For CZBANK, which is in a phase of deepening transformation, supplementing the management team is just the beginning. The critical task ahead remains implementing its Benevolent Finance and Smart Operation strategies amidst declining interest margins, intensifying competition, and increasingly stringent risk management requirements.