Bank of Qingdao Co., Ltd. Announces Board Changes, Effective from 2 July 2021
July 05, 2021 at 09:18 am EDT
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Bank of Qingdao Co., Ltd. has recently received the "Reply on the Qualification Approval of Liu Peng, Zhang Xu and Xing Lecheng as Directors of Banking Financial Institutions by CBIRC Qingdao Office" (Qing Yin Bao Jian Fu No. 267), in which the Qingdao Office of China Banking and Insurance Regulatory Commission (the "CBIRC Qingdao Office") has approved the qualification of Mr. Liu Peng as an executive director of the Bank and the qualifications of Mr. Xing Lecheng and Mr. Zhang Xu as independent non-executive directors of the Bank. The terms of office for Mr. Liu Peng, Mr. Xing Lecheng and Mr. Zhang Xu as directors have commenced from 2 July 2021, and will end upon the expiry of the term of the eighth session of the Board. In the light of the approval of the qualifications of the new independent non-executive directors, Mr. Xing Lecheng and Mr. Zhang Xu, Mr. Chen Hua ceased to be an independent non-executive director of the Bank and the chairman of the Related Party Transactions Control Committee, a member of the Strategy Committee, a member of the Audit Committee, a member of the Risk Management and Consumer Rights Protection Committee and a member of the Remuneration Committee of the Board, and Ms. Dai Shuping ceased to be an independent non-executive director of the Bank and the chairlady of the Remuneration Committee, a member of the Strategy Committee, a member of the Audit Committee, a member of the Related Party Transactions Control Committee and a member of the Nomination Committee of the Board, with effect from 2 July 2021.
Bank of Qingdao Co., Ltd. is principally engaged in corporate banking business. The Company operates its business through four segments. The Corporate Banking segment is engaged in the provision of a range of financial products and services to corporations, government agencies and financial institutions. The Retail Banking segment is engaged in the provision of a range of financial products and services to individual customers. The Financial Market Business segment is engaged in the Companyâs financial market operations, including inter-bank money market transactions, repurchases transactions, investments in debt securities and non-standardized debt investments. The Un-allocated Items and Others segment is engaged in head office assets, liabilities, income and expenses that are not directly attributable to a segment.