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 · 2026-03-27T08:30:52+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

2026-03-27 08:30:52

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Recently, there have been reports that Bank of Communications intends to apply for the revocation of its private banking specialty license. Public information shows that the private banking department of Bank of Communications was granted a license in 2012.

In response, Bank of Communications stated that in order to strengthen its wealth management characteristics and enhance customer service capabilities, it has approved the implementation of reforms in the retail sector’s system and mechanisms through a review by the bank’s board of directors, and related organizational adjustments are being steadily advanced in accordance with established procedures. The existing private banking business services, rights, processes, etc. will not be affected.

Bank of Communications stated that it will always adhere to a customer-centric approach and continue to provide higher quality and more efficient financial services. It appreciates the support and attention from its customers and the public.

(Bank of Communications)

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(Editor: Wang Xinyu)

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