Deyang Rural Commercial Bank's Zhongjiang Branch Fined 500,000 Yuan for Improper Lending Leading to Credit Risk

Deep News
02/03

An administrative penalty disclosure form from the Deyang Supervision Branch of the National Financial Regulatory Administration revealed that the Zhongjiang Branch of Deyang Rural Commercial Bank Co., Ltd. has been fined 500,000 yuan. The penalty was imposed due to the branch's issuance of loans in violation of regulations, which resulted in the formation of credit risk.

Additionally, Qiu Shuyuan, who served as the Chairman of the former Zhongjiang County Rural Credit Cooperative at the time of the violations, has been prohibited from working in the banking industry for a period of 12 years.

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