Financial regulators in Jilin province have issued six administrative penalties, targeting several branches of a major state-owned bank.

The penalties were disclosed on June 8th, with multiple local branches of the Industrial And Commercial Bank Of China Limited (ICBC) found to be in violation of various regulations.

The Jilin Financial Regulatory Bureau's public notice shows that ICBC's Changchun branch was fined 300,000 yuan for artificially inflating deposit and loan volumes by issuing loans at period-end. Seven individuals, including Zhang Chenning, Ma Long, Xiang Henan, Ye Hongsheng, Liu Lian, Li Ning, and Gao Shenhe, were given warnings.

ICBC's Changchun Ziyoudalu sub-branch and Changchun FAW sub-branch were each fined 300,000 yuan for failing to strictly enforce entrusted payment procedures for credit funds. Rong Shugang and Wan Bo were issued warnings.

ICBC's Changchun branch received a separate fine of 600,000 yuan for charging fees that did not match the quality of services provided. Zhang Jiazhong was warned in relation to this violation.

ICBC's Changchun FAW Group Company sub-branch was fined 300,000 yuan for using credit funds to assume entrusted loans. Yang Jiyuan was given a warning.

Four other branches—ICBC's Changchun Jingyue Tourism Economic Development Zone sub-branch, Changchun Development Zone sub-branch, Changchun FAW sub-branch, and Changchun Erdao sub-branch—were fined for misusing loan funds. The fines were 300,000 yuan, 600,000 yuan, 300,000 yuan, and 300,000 yuan, respectively. Xiang Henan, Liu Jiming, Wang Zijia, and Wan Bo received warnings.

Furthermore, ICBC's Jilin provincial branch and Changchun branch were penalized for imprudent practices in their auto installment loan business for credit cards. The fines were 300,000 yuan and 400,000 yuan, respectively. Yan Xuesong was warned, while Zhang Jindi was warned and fined 50,000 yuan.