This bank in Hainan has been fined 1.6 million yuan! Information on the punishment of four individuals including the then president | Fact | President
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Ding'an Hefeng Rural Bank
Fined 1.6 million yuan
The then president and four others were warned and fined
According to the administrative penalty information released by the Hainan Banking and Insurance Regulatory Bureau on July 7th, Ding'an Hefeng Village and Town Bank has been fined 1.6 million yuan in accordance with Article 46 of the Banking Supervision and Administration Law of the People's Republic of China for major violations such as non-compliance in related party transaction management, inadequate employee management, inadequate loan management, inaccurate five level loan classification, and untrue asset quality.
At the same time, the then president Miao Renzhong was responsible for "inadequate loan management; inaccurate five level loan classification, and untrue asset quality", and was warned and fined 150000 yuan;
Chen Xiubo, the then chairman, was responsible for "non-compliance in related party transaction management; abnormal financial transactions between employees and customers," and was given a warning and fined 100000 yuan;
Wu Qinggang, the then General Manager of the Micro Loan Business Department, was responsible for "employee abnormal behavior; loan management failure" and was warned and fined 50000 yuan;
Former Vice President Luan Guitao was responsible for "inadequate employee management; inadequate loan management" and was warned and fined 50000 yuan.