Manager Yao is unable to become Chairman Yao for a long time.

“It is quite rare in the banking industry for a chairman to remain unapproved by regulators for 16 months after being elected.”

On November 6, 2024, Harbin Bank announced that Chairman Deng Xinquan resigned due to approaching retirement age. At the same time, the board elected Yao Chunhe as chairman.

Yao Chunhe’s term as chairman began from the date his qualification was approved by the national financial regulatory authorities. Before approval, Deng Xinquan continued to serve as chairman.

Now, nearly a year and a half have passed.

Yao Chunhe remains the president, and 61-year-old Deng Xinquan is still the chairman.

This situation is quite rare in the banking sector.

Deng Xinquan joined the Agricultural Bank of China’s Heilongjiang branch in 1984, then worked at the People’s Bank of China Heilongjiang branch and the former Heilongjiang Banking Regulatory Bureau, serving as deputy director of the latter for 10 years.

In September 2020, Deng Xinquan became the Party Secretary of Harbin Bank, and in March 2021, he was appointed chairman.

Yao Chunhe was born in 1977, with most of his career at Industrial and Commercial Bank of China.

In August 2003, after earning a master’s degree in economics from Jilin University, Yao Chunhe joined ICBC’s Dalian branch. By 2009, he had become deputy general manager of the branch’s finance and accounting department.

Since then, Yao Chunhe has changed positions almost every two or three years. From branch manager to deputy president, by January 2018, he was the president and Party Secretary of Dalian Branch.

Two years later, in September 2020, Yao Chunhe was appointed deputy president of ICBC Heilongjiang Branch.

Over two more years, Yao Chunhe transferred to Harbin Bank, serving as Deputy Party Secretary in June 2022, and starting as president in March 2023.

In November 2024, Yao Chunhe began to succeed Deng Xinquan as Party Secretary of Harbin Bank, becoming the de facto top leader.

It was around this time that Deng Xinquan, born in January 1965, began applying for retirement.

Unexpectedly, this wait lasted 16 months.

Yao Chunhe

Harbin Bank was established in July 1997. In the first half of 2025, its operating income was 7.386 billion yuan, up 2.59% year-on-year, with a net profit of 992 million yuan, up 17.28%. However, during the same period, Harbin Bank’s net interest income was 4.413 billion yuan, down 11.37%, mainly due to a net interest margin of 1.1%, a decrease of 0.21 percentage points from the end of 2024.

By the end of June 2025, Harbin Bank’s total assets reached 927.528 billion yuan, with a non-performing loan ratio of 2.83%, a provision coverage ratio of 209.95%, an average return on total assets of 0.22%, and an average return on equity of 2.07%.