Recently, Qingdao banking and Insurance Regulatory Bureau issued the first “sky high price” fine in the new year. The penalty is Qingdao Rural Commercial Bank Corporation(002958) (hereinafter referred to as ” Qingdao Rural Commercial Bank Corporation(002958) “).
According to the punishment information disclosure form, Qingdao Rural Commercial Bank Corporation(002958) was fined 44.1 million yuan by Qingdao banking and Insurance Regulatory Bureau for many reasons, such as inaccurate five-level classification of loans, inadequate risk control after investment of investment business, ineffective control of employee behavior and so on. In addition, 28 relevant principals of the bank were also punished accordingly, including one was banned for life and five were fined 660000 yuan in total.
The reporter of the daily economic news noted that on January 28, Qingdao Rural Commercial Bank Corporation(002958) had issued an announcement in response to the punishment. The bank said: “the regulatory punishment comes from a number of inspections organized by the regulatory authorities in recent years. At present, most problems have been rectified. Regulatory inspection is an important means to ensure the sound operation of the banking industry, and the bank fully accepts the inspection punishment.”
In the next step, the bank will further focus on the main responsibility and main business, deepen structural adjustment, strengthen compliance management, promote the continuous improvement of the overall management level and maintain steady and good development through problem rectification and drawing inferences from one instance.
fined 44.1 million yuan for multiple violations
According to the disclosure form of administrative punishment information, Qingdao Rural Commercial Bank Corporation(002958) has a number of violations, including inaccurate five-level classification of loans, inadequate risk control after investment in investment business, ineffective control of employee behavior, issuance of bank acceptance bills for loan to margin, lack of effectiveness of data governance, misappropriation of liquidity loans, serious imprudence in real estate loan management Credit card overdraft funds flow into non consumer areas, etc. According to Article 46 of the banking regulatory law of the people’s Republic of China, Qingdao banking and Insurance Regulatory Bureau fined him 44.1 million yuan.
Not only did Qingdao Rural Commercial Bank Corporation(002958) receive huge fines, but 28 relevant responsible persons of the bank were also fined. Specifically, Qingdao banking and insurance regulatory bureau gave a warning to 22 people including gang, Chao Yang and pan Xiaohui, gave a warning to Ding Minglai, Jia Chenggang, Wang Jianhua, Jiang Wei and Liu Chenglin and fined a total of 660000 yuan, and gave an administrative penalty to Meng Qingjie, who was prohibited from engaging in banking work for life.
Every reporter noticed that in October last year Qingdao Rural Commercial Bank Corporation(002958) due to the violation of real estate loan business, Qingdao banking and Insurance Regulatory Bureau issued two tickets to him and relevant responsible persons, with a total fine of 2.2 million yuan. A ticket showed that Qingdao Rural Commercial Bank Corporation(002958) was fined 2 million yuan by Qingdao banking and Insurance Regulatory Bureau for serious imprudence in real estate loan management. Another ticket showed that Liu Zongbo, the president of Qingdao Rural Commercial Bank Corporation(002958) , was warned and fined 200000 yuan by Qingdao banking and Insurance Regulatory Bureau for his serious imprudence in the management of the bank’s real estate loans.
In response to the punishment, Qingdao Rural Commercial Bank Corporation(002958) said: “the regulatory punishment comes from a number of inspections organized by the regulatory authorities in recent years. At present, most problems have been rectified. Regulatory inspection is an important means to ensure the sound operation of the banking industry, and the bank fully accepts the inspection punishment.”
In the next step, Qingdao Rural Commercial Bank Corporation(002958) will further focus on the main responsibility and main business, deepen structural adjustment, strengthen compliance management, promote the continuous improvement of the overall management level and maintain steady and good development through problem rectification and drawing inferences from one instance.
in the first three quarters of last year, the revenue was 8.432 billion yuan
According to public information, Qingdao Rural Commercial Bank Corporation(002958) is headquartered in the core area of the national pilot zone for comprehensive financial reform of wealth management. It is one of the seven agricultural and commercial banks restructured and established in the whole city in the sub provincial cities approved by the State Council. It was listed and opened on June 28, 2012 and listed on Shenzhen Stock Exchange on March 26, 2019, It is the youngest A-share listed bank in China and the first A-share listed agricultural and commercial bank in the north of the Yangtze River.
According to the financial statements of the third quarter of 2021, the bank achieved an operating revenue of 8.432 billion yuan in the first three quarters, a year-on-year increase of 19.34%; The net profit attributable to shareholders of listed companies was 2.733 billion yuan, a year-on-year increase of 10.48%. In the third quarter, the operating revenue was 2.929 billion yuan, a year-on-year increase of 44.87%; The net profit attributable to shareholders of listed companies was 1.068 billion yuan, a year-on-year increase of 7.98%.
