Weekly Bank Review (February 23—February 27)

Finance Web × Enterprise Warning App

◆ Voice of Regulation

February LPR Quotes Announced, Unchanged for 9 Consecutive Months

On February 24, the People’s Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) for February 24, 2026, is 3.0% for the 1-year term and 3.5% for over 5 years. The LPR has remained unchanged for nine consecutive months.

People’s Bank of China Issues Support and Regulation for Cross-Border RMB Interbank Financing Business

To enhance the openness of the capital account, develop the offshore RMB market, and improve macroprudential management of cross-border capital flows, on February 26, the People’s Bank of China issued the “Notice on Matters Concerning RMB Cross-Border Interbank Financing Business of Banking Financial Institutions,” further supporting domestic banking financial institutions and foreign institutions to conduct RMB cross-border interbank financing business in a regulated manner. The notice takes effect immediately upon release.

People’s Bank of China Decides to Lower Foreign Exchange Risk Reserve Ratio for Forward Foreign Exchange Sales Business to 0

To promote the development of the foreign exchange market and support enterprises in managing exchange rate risks, the People’s Bank of China has decided that starting March 2, 2026, the foreign exchange risk reserve ratio for forward foreign exchange sales will be reduced from 20% to 0%. Moving forward, the People’s Bank of China will continue guiding financial institutions to optimize their foreign exchange hedging services for enterprises and maintain the RMB exchange rate at a reasonable and balanced level.

◆ Industry Focus

Targeting Year-End Bonuses and Red Envelopes, Banks’ Wealth Management Enter a “Golden Window Period”

As the post-holiday “return to work” wave begins, banks’ wealth management products are also rapidly launching. As of February 26, more than 10 banks’ wealth management institutions have launched “Start-of-Work Wealth Management” strategies. The products recommended by various institutions mainly remain low-volatility, stable options, with significantly lowered investment thresholds. Several products with a starting purchase amount of just 1 yuan have appeared on institutional lists. Additionally, the period after the Spring Festival has become an important window for many institutions to introduce new products.

◆ Corporate News

35 New State-Owned Legal Person Shareholders, Hubei Bank Raises 7.614 Billion Yuan in Private Placement

Hubei Bank recently disclosed that it completed the issuance of 1.8 billion shares, raising a total of 7.614 billion yuan. After the issuance, the total number of shares increased to 9.412 billion, and registered capital rose to 9.412 billion yuan. The issuance involved 53 legal shareholders, including 18 existing legal shareholders and 35 new state-owned legal shareholders. The largest shareholder, Hongtai Group, subscribed to 360 million shares, investing approximately 1.523 billion yuan at the issuance price of 4.23 yuan per share. After the capital increase, Hongtai Group’s shareholding remains at 19.99%.

◆ Personnel Changes in Financial Sector

Changsha Bank: Zhang Man Resigns as President Due to Job Change, Continues as Chairman and Other Roles

On February 25, Changsha Bank announced that the board received Zhang Man’s written resignation. Due to a job change, Zhang Man has applied to resign as President. She will continue serving as Chairman, Director, Chair of the Strategy and Sustainable Development Committee, and member of the Compensation and Nomination Committee and the Risk Control and Related-Party Transactions Committee. Her original term was set to expire on May 21, 2028. The resignation takes effect from February 24, 2026.

Wang Cheng Approved as President of Sichuan Tianfu Bank

On February 26, the Sichuan Financial Regulatory Bureau approved Wang Cheng’s appointment as President of Sichuan Tianfu Bank.

Approval for Wang Fubiao as Chairman and Wang Zhenfei as Vice President of Great Wall Western China Bank

On February 26, the Sichuan Financial Regulatory Bureau approved Wang Fubiao’s appointment as Chairman of Great Wall Western China Bank and Wang Zhenfei’s appointment as Vice President.

Ningbo Bank: Elects Zhuang Lingjun as Chairman, Feng Peijiong as President

On February 26, Ningbo Bank announced that its Ninth Board of Directors held its first meeting. The meeting approved the proposal to elect Zhuang Lingjun as Chairman of the Ninth Board. Zhuang Lingjun’s qualification as Chairman is subject to approval by the Ningbo Financial Regulatory Bureau. The meeting also approved the appointment of Feng Peijiong as President of Ningbo Bank, pending approval from the Ningbo Financial Regulatory Bureau.