Chuanyin Applies to Revoke Wealth Management Exclusive License; Bank of Communications: Implementing Retail Segment Institutional and Mechanism Reform with No Impact on Existing Businesses

LightningPacketLoss · 2026-03-25T12:12:41+00:00

Bank of Communications recently plans to apply for revocation of its private banking specialized institution license, stating that it will conduct retail segment reforms to strengthen service capabilities, with existing business remaining unaffected. The bank also stated that it will continue to be customer-centric and provide quality financial services.

LightningPacketLoss

2026-03-25 12:12:41

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Recently, there have been reports that Bank of Communications plans to apply for the revocation of its private banking license. Public information shows that the Bank of Communications Private Banking Department was licensed in 2012.

In response, the Bank of Communications stated that to strengthen its wealth management features and improve customer service capabilities, the bank’s board of directors approved a reform of the retail sector’s organizational structure and related adjustments. The work is being carried out strictly according to proper procedures. The existing private banking services, rights, and processes are not affected.

The Bank of Communications said it will always adhere to a customer-centric approach and continue to provide higher quality and more efficient financial services. Thank you to our customers and the public for your support and attention.

(Bank of Communications)

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(Edited by: Wang Xinyu)

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