Bank of Zhengzhou Co., Ltd. has been actively signing strategic cooperation agreements recently. In July alone, the bank entered into six such agreements, including partnerships with the governments of Anyang and Xingyang. In October, it further expanded collaborations with the Puyang Municipal Government and China Pingmei Shenma Group.

Chairman Zhao Fei and President Li Hong frequently attended these signing ceremonies. During the agreement signing with Puyang on October 23, Zhao Fei emphasized that the bank would leverage its local advantages to support Puyang’s strategic goal of becoming a central city in the border area of Henan and Shandong. The bank plans to focus on urban renewal, industrial parks, industrial upgrades, and key projects.

In addition to partnerships, Bank of Zhengzhou is acquiring rural banks to expand its footprint. The bank recently announced plans to purchase shares of Junxian Zhengyin Rural Bank from other shareholders and convert it into a branch. This acquisition, approved by the bank’s board, awaits regulatory approval.

The bank has also diversified its loan business, partnering with four online lending platforms—Jinrongtiao (JD), Anyihua, Weiye Loan, and Zhongan Loan—to offer digital credit products.

Despite its aggressive expansion, Bank of Zhengzhou faces challenges. Under Zhao Fei’s leadership, the bank saw declining revenues in 2023 (-9.5%) and 2024 (-5.8%). However, 2025 brought modest growth, with total operating income reaching RMB 9.395 billion (up 3.91% YoY) and net profit at RMB 2.279 billion (up 1.56% YoY) in the first three quarters.

Key financial metrics include: - Net interest income: RMB 7.816 billion (+5.83% YoY) - Net fee and commission income: RMB 325 million (-6.87% YoY) - Investment gains: RMB 1.463 billion (+42% YoY) - Fair value losses: RMB -219 million

Operating expenses rose, with credit impairment losses reaching RMB 4.359 billion (vs. RMB 4.046 billion YoY). Non-recurring losses included fines totaling RMB 2.783 million.

As of September 2025, Bank of Zhengzhou’s total assets stood at RMB 743.552 billion (+9.93% YoY), while loans and advances grew to RMB 406.716 billion (+4.91% YoY).

Zhao Fei, 50, previously worked at Agricultural Bank of China before joining Bank of Zhengzhou as president in 2022 and becoming chairman in 2023. His compensation fluctuated from RMB 570,000 (2022) to RMB 1.03 million (2023) and RMB 700,000 (2024).

The bank’s leadership team has seen significant turnover, with 11 senior executives departing in the first half of 2025, including three deputy presidents and five directors. The current team consists of President Li Hong, Board Secretary Han Huili, Deputy President Sun Runhua, and Assistant President Zhang Houlin.