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Zhongyuan Bank gets fourth president in four years as Zhang Tao takes office
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Zhongyuan Bank, the largest city commercial bank in Henan Province, has appointed Zhang Tao as its new president, effective September 14, 2026, following approval by the Henan Financial Regulatory Bureau. Zhang Tao, previously Vice President of Henan Rural Commercial Bank, succeeds Zhou Fengteng, who became chairman after Guo Hao resigned and was later investigated. This marks the fourth presidential change in four years, a rare occurrence among listed city commercial banks. The bank reported first-half 2026 revenue of RMB 14.271 billion (up 5.2% year-on-year) and net profit of RMB 2.119 billion (up 4.2%). However, its non-performing loan ratio remains high at 1.96%, with special-mention loans rising to 4.09% of total loans, signaling potential credit risks. The new president faces the challenge of resolving these non-performing loan issues.
Source report
Source: Spy Finance
Zhongyuan Bank, the largest city commercial bank in Henan Province, has officially welcomed its new president after a five-month vacancy.
According to the bank's latest announcement, Zhang Tao's qualification for the position of President of Zhongyuan Bank has been approved by the Henan Financial Regulatory Bureau. He will serve as the company's President, Executive Director, and Vice Chairman effective September 14, 2026, with a term lasting until the re-election of the third session of the board of directors. He is eligible for re-election upon expiration of his term.
Prior to this appointment, Zhang Tao served as Vice President and Standing Committee Member of the Party Committee of Henan Rural Commercial Bank. In effect, he was "airdropped" from a provincial-level rural commercial bank within Henan Province to become the "number two" leader at Zhongyuan Bank, marking a promotion.
Succession Context
Zhang Tao succeeds Zhou Fengteng, who vacated the president's position after being appointed as the new Chairman of Zhongyuan Bank. Zhou Fengteng, in turn, succeeded former Chairman Guo Hao.
Guo Hao joined Zhongyuan Bank in June 2023, having been "airdropped" from his role as Mayor of Hebi City in Henan Province. He served for less than three years. Shortly after Guo Hao left, he was stripped of his status as a deputy to the Provincial People's Congress. Based on past precedents, this likely indicates that he has fallen under investigation.
Frequent Leadership Changes
Zhongyuan Bank has changed presidents four times in the past four years, a relatively rare occurrence among listed city commercial banks.
Previous presidents:
- Wang Jiong – First president of Zhongyuan Bank (established end of 2014). Previously served as Vice President of the Zhengzhou Branch of China Guangfa Bank and President of the Haikou Branch of CITIC Bank. Held the position until end of August 2022, when he was reassigned as Vice Chairman. In October 2023, he was transferred to become President of Henan Rural Commercial United Bank. Following the establishment of the restructured Henan Rural Commercial Bank in February 2025, he became its president.
- Liu Kai – Succeeded Wang Jiong after serving as Vice President. Resigned in October 2025 after only two years in the role.
- Zhou Fengteng – "Airdropped" from his role as Deputy Secretary-General of the Henan Provincial Government to serve as Deputy Party Secretary of Zhongyuan Bank, then took over from Liu Kai as President. Served for less than four months before being promoted to Chairman following Guo Hao's resignation.
Guo Hao resigned from all positions due to work reassignment. He was later transferred to Henan Communications Investment Group as a "full-time external director," and was investigated and fell from grace after moving to the new post.
In June of this year, after Zhou Fengteng was officially approved as Chairman of Zhongyuan Bank, speculation arose within the industry regarding who would fill the vacant president position. Ultimately, the bank recruited a vice president from Henan Rural Commercial Bank, who was also a former subordinate of Zhongyuan Bank's veteran president Wang Jiong.
Financial Performance (First Half 2026)
| Metric | Value | YoY Change | |--------|-------|------------| | Operating revenue | RMB 14.271 billion | +5.2% | | Net interest income | RMB 12.011 billion | +8.7% | | Net profit attributable to shareholders | RMB 2.119 billion | +4.2% | | Total assets | Approx. RMB 1.5 trillion | +5.8% vs end of last year | | Net loans and advances | RMB 728.113 billion | +1.6% vs end of last year |
The modest loan growth indicates a more cautious approach to credit expansion.
Asset Quality Concerns
Non-performing loans (NPLs):
- Balance: RMB 14.621 billion (increase of RMB 232 million vs end of last year)
- Primary driver: Significant rise of RMB 466 million in NPLs within the wholesale and retail sectors
- NPL ratio: 1.96% (flat vs end of last year) – considered high among listed city commercial banks
Special-mention loans:
- Total: RMB 30.482 billion (increase of RMB 6.44 billion vs end of last year)
- Proportion: Rose to 4.09%
- This is a concerning signal, suggesting increasing risks of potential conversion into NPLs
Provisions:
- Impairment provisions on loans and advances: RMB 4.106 billion (up 71.3% YoY)
- Provision coverage ratio: 170.71% (up 4.96 percentage points from end of last year)
- However, for a listed city commercial bank, this buffer remains relatively thin
Outlook
For the newly appointed President Zhang Tao, resolving Zhongyuan Bank's non-performing loan risks remains a major priority.
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