SHANGHAI May 8 China Merchants Bank
is expected to announce on Wednesday that its
President Ma Weihua will retire in June, two banking sources
Ma, 64, will be replaced by Tian Huiyun, vice president of
state-owned China Construction Bank , said
the sources who have direct knowledge of the changes but who are
not authorised to make the information public.
Ma and a China Merchants Bank spokesman declined to comment
on the matter when contacted by Reuters. Ma was the bank's
president for 14 years.
China Merchants Bank, the country's seventh biggest lender
in terms of market capitalisation, is renowned for its retail
and Internet banking services.
Like its peers, the bank is suffering from a slowing
economy, shrinking interest margins and worsening credit
($1 = 6.1541 Chinese yuan)
(Additional reporting by Chen Yixin, Samuel Shen and Zhao
Hongmei; editing by Miral Fahmy)