More Chinese banks claw back bonuses, cut salaries despite mixed profit recovery
Some lenders are also deferring bonuses and cutting headcount as they tighten their purse strings
Several major Chinese banks have clawed back staff bonuses or cut salaries amid a sluggish economic recovery and Beijing’s ongoing scrutiny of the financial sector.
In their annual reports, an increasing number of lenders, ranging from state-owned institutions to commercial banks, are disclosing the amount of performance-based compensation reclaimed from their employees last year.
State-owned Bank of China recovered 47.18 million yuan (US$6.9 million) from 4,630 individuals in 2025, according to its latest annual report. In 2024, it clawed back 32.5 million yuan from nearly 2,500 staff.
China Bohai Bank, a Tianjin-based commercial lender, clawed back 19.58 million yuan in bonuses from 816 individuals last year, while Henan’s Zhongyuan Bank reported that it recovered 13.57 million yuan, without revealing the number of employees affected.
Several other banks, including China Construction Bank and Huaxia Bank, have made similar disclosures.
Beyond clawback measures, some Chinese banks are also deferring bonuses, reducing salaries and cutting headcount as they tighten their purse strings.
Some lenders, including Bank of China and China Bohai Bank, are deferring at least 40 per cent of performance-based pay for some staff for three years or more, according to their annual reports.