Deyang Rural Commercial Bank's Zhongjiang Branch Fined 500,000 Yuan for Improper Lending Leading to Credit Risk
Deep News
Feb 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.