Plans to apply for the revocation of the private banking license. Bank of Communications: Implementing reforms to the retail sector structure and mechanisms. Existing business remains unaffected.

LightningPacketLoss · 2026-03-30T16:49:08+00:00

Bank of Communications recently plans to apply for the revocation of its private banking license, stating that it will carry out retail sector reforms to strengthen service capabilities. The existing business will not be affected, and the bank also stated that it will continue to be customer-centric and provide high-quality financial services.

LightningPacketLoss

2026-03-30 16:49:08

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Recently, there have been reports that Bank of Communications plans to apply to revoke its private banking specialized institution license. Public information shows that the Bank of Communications’ Private Banking Department was approved for licensing in 2012.

In response, the Bank of Communications said that, to strengthen its wealth-management financial特色, and to improve its customer service capabilities, it has—after review and approval by the Bank’s board of directors—implemented reforms to the organizational and operational mechanisms for its retail segment, along with related adjustments to its organizational structure. The relevant work is currently being advanced in a steady and careful manner strictly in accordance with the required procedures. Existing private banking business services, rights and interests, procedures, and so on are not affected.

The Bank of Communications stated that it will always adhere to a customer-centered approach and continue to provide better-quality, more efficient financial services. Thank you to customers and the public for their support and attention to the Bank of Communications.

(Bank of Communications)

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(Editor: Wang Xinyu)

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