China Merchants Bank's Hefei Branch Fined 1.48 Million Yuan for Regulatory Breaches

Deep News04-10 22:10

On April 10, the People's Bank of China Anhui Branch published an administrative penalty decision showing that China Merchants Bank Co., Ltd. Hefei Branch was issued a warning and fined 1.48 million yuan. The penalties were imposed for violations including non-compliance with financial statistical regulations, breaches of anti-counterfeit currency business management rules, failure to adhere to RMB circulation management requirements, improper retention of fiscal deposits or funds, and not conducting customer due diligence as required.

The penalty decision, numbered Wan Yin Fa Jue Zi [2026] No. 2, was issued by the People's Bank of China Anhui Branch on April 7, 2026, and will remain publicly disclosed for a period of three years.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment