--- title: "Meng Dongxiao appointed as Chairman of WEIHAI BANK! Zhang Wenbin becomes another \"post-80s\" bank president" type: "News" locale: "en" url: "https://longbridge.com/en/news/214242535.md" description: "On September 12, WEIHAI BANK announced a senior management adjustment, with Meng Dongxiao taking over as chairman and Zhang Wenbin becoming the new president. Former chairman Tan Xianguo resigned after serving for 13 years, facing criticism for exceeding his term. Meng Dongxiao has been serving as president since 2018, is 51 years old, holds a doctoral degree, and has previous experience in teaching. This adjustment signifies a new change in the management team of WEIHAI BANK" datetime: "2024-09-13T03:57:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/214242535.md) - [en](https://longbridge.com/en/news/214242535.md) - [zh-HK](https://longbridge.com/zh-HK/news/214242535.md) --- # Meng Dongxiao appointed as Chairman of WEIHAI BANK! Zhang Wenbin becomes another "post-80s" bank president On September 12, WEIHAI BANK (09677.HK), listed in Hong Kong, issued two announcements, mainly regarding the recent senior management changes and the convening of an extraordinary general meeting of shareholders to go through the necessary procedures. The key focus of this round of changes is the resignation of Chairman Tan Xianguo, who has been in office since July 2011 for a total of 13 years. The current President Meng Dongxiao will succeed him and take on the role of Chairman. The vacancy left by Meng Dongxiao as President will be filled by the "post-80s" Vice President Zhang Wenbin. **The resignation of former Chairman Tan Xianguo may be a suitable move** Public information shows that former Chairman Tan Xianguo was born in October 1966, graduated from Shaanxi University of Finance and Economics, and holds the title of Senior Economist. Since joining Xinghai Urban Credit Cooperative (one of the predecessors of WEIHAI BANK) in Weihai City in 1993, he has been working there diligently. After many years of hard work, he finally became the Chairman of WEIHAI BANK in July 2011. During his tenure, WEIHAI BANK became the first city commercial bank in Shandong Province to achieve full coverage of branches in prefecture-level cities. In October 2020, it was listed on the Hong Kong Stock Exchange. Although the specific reasons are unclear, and he is not yet 58 years old, his departure at this time may be appropriate. As of now, Tan Xianguo has served as Chairman of WEIHAI BANK for over 13 years. Due to his excessively long "waiting time," which violates the rotation requirement in the Guiding Opinions on Bank and Insurance Institutions' Employees Avoiding Work issued by the former China Banking and Insurance Regulatory Commission, criticisms have emerged towards the end of his tenure. This includes serving beyond the stipulated period, as well as under his leadership, the annual salaries of the Chairman, President, and Supervisor of WEIHAI BANK all exceeded 2 million yuan, higher than similar banks. **Meng Dongxiao's years of hard work finally pay off** Meng Dongxiao, the former President who will now take on the role of Chairman, has been serving as President since February 2018, totaling 6 and a half years, and has now taken a further step forward. Meng Dongxiao, born in January 1972 in Zhuji, Zhejiang Province, holds a doctoral degree. Before entering the financial industry, Meng Dongxiao had a period of teaching experience. He started as a lecturer at the Shanghai Customs College and was the director of the Modern Customs System Research Office since August 1996. In 2000, Meng Dongxiao seemed to have made a firm decision and enrolled in the doctoral program in Finance at Fudan University in September of that year. It is relatively rare to pursue a doctoral degree while already working within the system and holding a certain position. After graduating in 2003, Meng Dongxiao joined Minsheng Bank's Shanghai Branch in October of the same year as Assistant to the East Branch President. In April 2007, he moved to Beijing to serve as General Manager of the Quality Management Center under the Corporate Finance Department of the Head Office. In July 2009, he was transferred to the Small and Medium Enterprise Finance Department in the same position. Starting from March 2014, he returned to Shanghai as General Manager of the Health Finance Department at Minsheng Bank. In September 2015, he was promoted to General Manager of the Health Finance Department, Second Division, at the Shanghai Branch It is obvious that Meng Dongxiao's development at WEIHAI BANK has not been satisfactory. From April 2007 to April 2016, he held the position of a second-level department manager at the head office for a full 9 years before joining WEIHAI BANK. Transitioning from an assistant to the branch manager at the Shanghai branch to a department manager, he only made half a step forward in nearly 13 years. In this context, Meng Dongxiao's appointment as an executive director at WEIHAI BANK in 2016 is understandable; fortunately, his career at the new institution has been relatively smooth. After February 2018, he officially took on the role of the bank's president and recently succeeded Tan Xianguo to become the chairman of WEIHAI BANK. What was lost in the east was gained in the west, and years of perseverance have finally paid off! **Zhang Wenbin becomes another "post-80s" president of a listed bank** Taking over the vacancy left by President Meng Dongxiao, Zhang Wenbin will become another "post-80s" president of a listed bank. Public information shows that Zhang Wenbin was born in 1983. During his work in 2012, he obtained a Master's degree in Business Administration from Ocean University of China and holds the title of engineer. Zhang Wenbin's career began mainly in business marketing. Starting in September 2004, he successively held positions as the business department manager of a branch, deputy general manager of the corporate banking department, and branch manager of the Industrial New Area branch at WEIHAI BANK. From May 2014 to March 2016, he temporarily left WEIHAI BANK for a period of "overseas work experience," serving as the deputy general manager of Shandong High-Speed Singapore Limited. He then returned to WEIHAI BANK and served as the general manager of the Transportation Finance Department until February 2017. From there, Zhang Wenbin's career entered the fast lane, experiencing rapid growth and advancement. In just a few years, he successively held positions as the Party Committee Secretary of Weifang Branch, President of Weifang Branch, General Manager of the Transportation Finance Department, General Manager of the Corporate Banking Department, Director of Corporate Business, and Assistant President. In August 2021, Zhang Wenbin was appointed Vice President of WEIHAI BANK, and now he has stood out among the bank's several vice presidents to become the President of WEIHAI BANK. It is worth noting that among the four vice presidents of the bank before the leadership change, besides Tao Zunjian born in 1970, Zhang Wenbin and Jiang Yi are post-80s, while Lu Jiliang was born in 1990, a relatively rare "post-90s" vice president. **Subsequent improvement in asset quality should be a governance focus** As a city commercial bank established in 1997, WEIHAI BANK was the first city commercial bank in Shandong Province to achieve full coverage of district-level cities with its branches. It was listed on the Hong Kong Stock Exchange in October 2020. Although the bank's scale is smaller than Qingdao Bank and Qilu Bank, both exceeding 600 billion, due to the different levels of the headquarters city, WEIHAI BANK's total assets were 422.864 billion yuan as of the mid-year report in 2024, an increase of 46.383 billion yuan compared to the previous year, with a growth rate of 12.32%, indicating continued rapid development. In other indicators, the bank's total loans amount to 205.425 billion yuan, with a year-on-year growth rate of 13.23%, total deposits amount to 281.736 billion yuan, with a year-on-year growth rate of 8.76%, net interest margin at 1.80%, a decrease of 15 basis points year-on-year, non-performing loan ratio at 1.45%, unchanged year-on-year, and provision coverage ratio at 154.08%, a slight decrease of 1.91 percentage points year-on-year With a capital adequacy ratio of 13.55%, a slight increase of 0.11 percentage points year-on-year. After the new executive team took office, while focusing on business development, strengthening asset quality control may be one of the key operational priorities for the bank. Compared to A-share listed city commercial banks, the bank's semi-annual non-performing loan ratio of 1.45% appears to be relatively high. Comparison of non-performing loan ratios between Weihai Bank and A-share listed city commercial banks Unit: %; Basic data source: iFind Moreover, within just half a year, the proportion of the bank's special mention loans has increased from 2.29% at the end of last year to 2.97%, resulting in a total of 4.42% problematic loans for the bank as of the end of June 2024. If not addressed promptly to prevent future risks, it will inevitably affect the bank's operational performance ### Related Stocks - [09677.HK](https://longbridge.com/en/quote/09677.HK.md) ## Related News & Research - [Standard Chartered agrees to buy Zodia Custody custody business](https://longbridge.com/en/news/286752083.md) - [Announcement from Eimskip: Seafarers’ Union of Iceland announces strike](https://longbridge.com/en/news/286679460.md) - [Tunisians protest against Saied over arrests and economic strain](https://longbridge.com/en/news/286650936.md) - [Cambi (OB:CAMBI) Margin Decline Challenges Bullish Growth Narratives Heading Into Q1 2026](https://longbridge.com/en/news/286275660.md) - [France's CMA CGM suspends Cuba bookings after US executive order](https://longbridge.com/en/news/286679336.md)