The Tianjin branch of the Agricultural Bank of China (ABC) has been penalized for failures in staff management and oversight.
According to an administrative penalty notice published by the Tianjin office of the National Financial Regulatory Administration, the Agricultural Bank of China Tianjin Bingguan Nandao Sub-branch was fined 400,000 yuan. The penalty was issued due to inadequate employee management and because an employee was involved in illegal activities.
As part of the same enforcement action, a former employee of the branch, Su Yangwei, has been prohibited from working in the banking industry for a period of three years.
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