Ping An Bank's Taizhou Branch Fined One Million Yuan for Improper Deposit Collection Practices

Deep News07-28

Ping An Bank Co.,Ltd.'s Taizhou branch has been penalized by financial regulators for engaging in improper deposit-taking activities and failing to fairly distribute property insurance costs for small and micro-enterprise loans.

According to an administrative penalty disclosure from the Taizhou Regulatory Office of the National Financial Regulatory Administration, the bank was fined 1 million yuan. The specific violations included collecting deposits through improper means and not reasonably sharing property insurance premiums for small and micro-enterprise collateral.

Additionally, an individual named Yan Xiaoli was issued a warning in connection with the case.

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