The Ningbo branch of the Industrial And Commercial Bank Of China Limited (ICBC) has been penalized by regulators for multiple compliance failures.

According to an administrative penalty disclosure from the National Financial Regulatory Administration's Ningbo Bureau, the branch was cited for inadequate internal control management, imprudent loan due diligence processes, inaccurate risk classification for loans to small and micro enterprises, and non-compliant bill business operations.

The regulator imposed a fine of 3.8 million yuan on ICBC's Ningbo branch.

Additionally, four responsible individuals—Ding Yi, Zheng Ning, Tang Qiaolei, and Di Zhuanhong—received warnings and were collectively fined 220,000 yuan.

The penalties were formally issued by the National Financial Regulatory Administration's Ningbo Supervision Bureau.