Announcement on the Resolutions of the 14th Meeting of the 4th Session BOD
2008-1-10 11:12:32
The 14th meeting of the 4th session Board of Directors of the Bank was convened in Shenzhen on December 18, 2007. The meeting notices were sent out via express mails and emails on December 7, 2007. The meeting was presided by Chairman Dong Wenbiao. All 18 directors participated in the meeting, in which 13 were in person and 5 entrusted others. 6 out of 9 supervisors attended the meeting. The meeting complied with the Company Law, and the resolutions were legal and effective.
The meeting reviewed and passed the following resolutions:
1. Resolution on Reforming Corporate Banking Units and Restructuring Internal Organizations
The meeting reviewed and passed the Proposal on Reforming Corporate Banking Units and Restructuring Internal Organizations, and approved to carry out reform on corporate banking units of the Bank, and to restructure the internal organizations, which included:
1) Adjusting and restructuring the Bank’s corporate banking units
In reference to the operational experience of international banks, where SBU profit center is adopted, the Bank will adjust and restructure its corporate banking units by changing the management model from branch-centered to integration of corporate personnel dispersed in branches and sub-branches according to customer type, product and industry, in an aim to achieve professional sales, management and credit approval. SBU management system will be applied to major product lines and industries of corporate banking business.
(1) The previous Corporate Banking Department will be renamed as the Office of Corporate Banking Management Committee, the previous industry finance center under the Corporate Banking Department will be dissembled into five industry finance SBUs, e.g. Real Estate Finance SBU, Energy Finance SBU, Transportation Finance SBU, Metallurgical Finance SBU and Institutional Finance Department, while the previous SME Finance Department will be renamed as Industrial and Commerce Enterprises Finance Department.
(2) The previous three departments with partial management functions, e.g. Trade Finance Department, Financial Market Department and Investment Banking Department, will be changed into three product SBUs.
2) Integrating mid and back office departments
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