On June 7th, in order to prevent similar incidents from happening again, the Bank openly recruited Chief Risk Officer (CRO) and General Manager of Risk Management Department.
On June 25th, the shareholders' meeting of Yantai Bank Chairman and other senior directors was held. Zhuang Yonghui, the former chairman of Yantai Bank, and Li Yongping, the former vice president, were removed from their directorships, and the resolution that another director, Chen Yuandong, resigned as a director was passed. In addition, the meeting also considered adding three new directors, namely Chairman Ye Wenjun, President Sun Caihou and Chief Risk Officer Deng Yubin of Hang Seng Bank.
Relevant persons of Yantai Bank said that after the new senior management of Yantai Bank took office, they have begun to establish and improve the internal control system and strengthen the risk management department. At present, the employees' mood and bank operation are relatively stable. Last month, the bank added 2 billion yuan in deposits, the best level in its history.