ICBC Maoming Branch Fined 800,000 Yuan for Serious Violations of Prudent Lending Rules

Deep News01-05

On January 5, the Maoming branch of the Industrial and Commercial Bank of China Ltd. (ICBC) and related individuals were penalized for serious violations of prudent operating rules in loan management, according to an administrative penalty information disclosure form from the Maoming supervisory office of the National Financial Regulatory Administration.

The Maoming financial regulatory authority imposed a fine of 800,000 yuan on the Maoming branch of ICBC. Individuals named Zhang Rui, Chen Yuzhou, and Zheng Xinjin each received a warning, while Tang Yichao was given a warning along with an additional fine of 50,000 yuan.

The table below details the specifics of the penalty.

Serial Number Entity Name Primary Violations Penalty Content Issuing Authority

1 Industrial and Commercial Bank of China Ltd., Maoming Branch Serious violations of prudent operating rules in loan management Fine of 800,000 yuan on ICBC Maoming Branch Maoming Financial Regulatory Office

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