An rural commercial bank was fined 2.7 million yuan by the China Banking Insurance Regulatory Commission (CBRC) for concealing information about the case

2022-07-27 0 By

According to the official website of CBRC, CBRC Bayannaoer Branch of CBRC published administrative penalty information disclosure form (CBRC Bayannaoer Branch of CBRC Penalty Decision [2022] No. 1);(Bank of Bayannaoer Hetao Rural Commercial Bank Co., Ltd. concealed case information;If the loan conditions of related parties are better than those of similar loans of non-related parties and loans are issued in violation, The Banking Supervision Sub-bureau of Bayannur Shall follow article 46 (3) of the Banking Supervision and Management Law of the People’s Republic of China;According to article 46 (5) of the Banking Supervision Law of the People’s Republic of China, the bank will be fined 2.7 million yuan with a penalty date of January 26, 2022.