On August 29, Bank of Communications released its 2025 interim report and held a mid-term performance briefing. As of the end of June, the bank's total assets reached 15.44 trillion yuan, an increase of 3.59% compared to the end of the previous year. In the first half of the year, Bank of Communications achieved operating revenue of 133.368 billion yuan, up 0.77% year-on-year; net profit attributable to shareholders of the parent company was 46.016 billion yuan, up 1.61% year-on-year, with net profit growth ranking second among the six major banks, behind only Agricultural Bank of China.
The interim report also disclosed senior management position adjustments, with Tu Hong, Business Director (Interbank and Market Business), no longer concurrently serving as President of Shanghai Branch. Yang Yong, former President of Guangdong Provincial Branch, has taken over as President of Shanghai Branch.
On the same day, Bank of Communications also released a board resolution announcement, agreeing to appoint Tang Shuo as Business Director (Corporate and Institutional Business). He currently serves as President of Bank of Communications Beijing Branch.
Tang Shuo's resume shows extensive branch management experience, having led three provincial-level branches and previously served as Deputy General Manager of the Head Office's Institutional Business Department. Once his qualification as Business Director is approved, the 47-year-old Tang Shuo will become Bank of Communications' youngest senior executive.
Tang Shuo, born in 1978, obtained a Bachelor of Law degree from Xi'an Jiaotong University in 2001 and a Master of Engineering degree from Beijing Jiaotong University in 2018. He is a Senior Economist. He has served as Deputy President of Bank of Communications Beijing Lincui Road Sub-branch, President of Wangjing Sub-branch, General Manager of Personal Financial Business Department of Beijing Branch, Deputy General Manager of Head Office Corporate Institutional Business Department (Investment Banking Department), Assistant President and Deputy President of Beijing Branch, Deputy President (acting as President) and President of Jiangxi Provincial Branch, and President of Guangdong Provincial Branch. Since June 2023, he has served as President of Bank of Communications Beijing Branch.
It is understood that Bank of Communications first established dedicated business directors for three major segments - corporate, interbank, and retail - in 2018, belonging to the senior management tier. According to the division: the corporate business segment includes small enterprise, corporate department, international department, and interbank and custody businesses; the interbank business segment includes interbank, financial market, and asset management departments; the retail business segment includes personal finance and channel departments.
At that time, Bank of Communications personnel indicated that the establishment of the three major business segments was intended to enable better coordination within segments and improve business efficiency, as there were overlapping phenomena within segment businesses. On one hand, it was to promote veterans and prepare reserve bank leadership; on the other hand, dedicated directors could better coordinate departmental businesses within segments.
It is worth noting that Bank of Communications has had three business directors who have been promoted to important positions, all of whom were transferred to Agricultural Bank of China.
In March 2019, former Bank of Communications Corporate Business Director Fu Wanjun resigned and later served as President of China Everbright Bank and President of Agricultural Bank of China, and currently serves as Deputy Director of the National Financial Regulatory Administration. In July 2020, former Bank of Communications Retail Business Director Xu Han resigned and was appointed Deputy President of Agricultural Bank of China in October of that year, retiring in January this year upon reaching age limit. In December 2024, Bank of Communications Business Director (Corporate and Institutional Business) Wang Wenjin resigned due to work transfer and was approved to serve as Deputy President of Agricultural Bank of China in January this year.
Following Tang Shuo's appointment, he will take over Wang Wenjin's responsibilities, overseeing corporate business. The current two business directors are also Bank of Communications veterans: Tu Hong, Business Director (Interbank and Market Business), has served since 2018, and Lin Hua was appointed Bank of Communications Business Director (Retail and Private Business) in June 2023.
The interim report shows that as of the end of June, Bank of Communications' domestic banking institutions had a total of 2.95 million corporate customers, an increase of 3.75% from the end of the previous year; group customer members increased by 7.78% from the end of the previous year; domestic banking institutions had 202 million retail customers (including debit and credit card customers), an increase of 1.30% from the end of the previous year.
In the first half of 2025, Bank of Communications' corporate finance business achieved total profit of 25.101 billion yuan, up 24% year-on-year, accounting for 53.51% of total profit; operating revenue was 65.494 billion yuan, accounting for 48.43% of total revenue. In contrast, Bank of Communications' personal finance business experienced a significant decline. In the first half of the year, personal finance business achieved total profit of 7.461 billion yuan, down 47.8% year-on-year, nearly halving, with the total profit share also declining by 14 percentage points to 15.9%.
Beyond headquarters, Bank of Communications has recently had three provincial branch deputy presidents' qualifications approved, all promoted from within the system.
On September 3, Zeng Liang was appointed Deputy President of Bank of Communications Xinjiang Regional Branch; he previously served as Deputy President (presiding over work) of Bank of Communications Beijing East District Sub-branch and President of Haidian Sub-branch.
On August 25, Chen Fei was appointed Deputy President of Bank of Communications Guizhou Provincial Branch; he previously served as President of Bank of Communications Guiyang Youzhajie Sub-branch, General Manager of Guizhou Provincial Branch Corporate Business Department, President of Bijie Branch, and President of Zunyi Branch.
On August 11, Wang Huaibo was appointed Deputy President of Bank of Communications Heilongjiang Provincial Branch; he previously served as General Manager of Bank of Communications Qingdao Branch Business Department.