China Merchants Bank Co. party secretary Ma Weihua resigned after nearly 15 years in charge of the nation’s sixth-largest lender, as management changes in the financial industry follow a once-a-decade leadership transition.
China Merchants Bank said it plans to issue debt to meet its capital adequacy target and doesn’t intend to sell equity. The lender commented in a statement to Shanghai’s stock exchange. The lender aims to keep its capital adequacy ratio at a minimum of 10 percent from now through 2012, it said. A shareholders’ meeting will be held on June 11.