The People's Bank of China's Ningbo branch has published an administrative penalty decision. The Ningbo branch of Bank Of China Limited (SH: 601988) has been penalized for multiple regulatory violations.

The branch was found in breach of financial statistical management regulations, data security management rules, regulations on the circulation of the Renminbi, and anti-counterfeit currency business management rules. It was also penalized for occupying fiscal deposits or funds and for violating regulations concerning the collection, provision, inquiry, and related management of credit information.

As a consequence, the branch received an official warning and was fined a total of 4,360,900 yuan.