Bank of China Ltd announced that President Liu Jin has resigned after just over three years in the role, effective August 25, citing personal reasons. Liu, who also stepped down as executive director, was absent from a recent board meeting. Chairman Ge Haijiao will serve as acting president. The resignation comes amid President Xi Jinping’s ongoing crackdown on corruption in China’s financial sector, where over 100 executives have been implicated. Liu Jin, who joined Bank of China in 2021, previously held positions at China Everbright Bank and Industrial & Commercial Bank of China Ltd. Bank of China, which saw a 2.9% drop in first-quarter net income, is set to release its half-year earnings next week. There was no disagreement with the board, according to the filing.
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