China Minsheng Bank president files resignation letter

China Minsheng Bank President Mao Xiaofeng has requested resignation from his position "for personal reasons," the bank announced Saturday.

Mao has filed a letter to resign from his posts as director, president and other roles in the bank's special committees, according to a statement filed to the Shanghai Stock Exchange.

"China Minsheng Bank has noticed media reports concerning president Mao Xiaofeng. As far as the bank knows, the matter is of a personal nature and is unrelated to bank operations," the statement said.

Board chairman Hong Qi will temporarily take his place as president as determined by the board, the bank said.

The response came shortly after rumors circulated on social media that Mao had been taken away by the disciplinary inspection department to "assist with investigations." The rumors did not specify when he was taken away.

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