According to an administrative punishment information recently disclosed by Shanxi banking and Insurance Regulatory Bureau of the China Banking and Insurance Regulatory Commission, Taiyuan branch was fined 17.1 million yuan for six violations of laws and regulations, China Minsheng Banking Corp.Ltd(600016) Taiyuan branch, and several managers were punished .
The facts of violation of laws and regulations of China Minsheng Banking Corp.Ltd(600016) Taiyuan Branch disclosed by Shanxi banking and Insurance Regulatory Bureau include: carrying out promise business without authorization of the head office; Failing to conduct financial accounting in accordance with accounting principles; The record in the register of the use of official seal is untrue; Provision is not made in accordance with the penetration principle; Issuing entrusted loans that actually bear risks; Provide implicit guarantee during the investment and operation of financial management business.
Tian Lihui, Dean of the Institute of financial development of Nankai University: some bank executives knowingly violate the law, dare to provide guarantees in violation of regulations, and exchange long-term risks for short-term performance. In the daily work, some banks’ financial accounting is out of order, the official seal is used arbitrarily, and the management is chaotic. But performance and busyness are not reasons for violations.
In this regard, Shanxi banking and Insurance Regulatory Bureau ordered China Minsheng Banking Corp.Ltd(600016) Taiyuan branch to make corrections and fined 17.1 million yuan; Cancel Zhu Xiaopeng’s qualification as a senior manager in the banking industry for five years; Cancel Luo Ping’s qualification as a senior manager in the banking industry for three years; Liu Yang and Yang Liu are prohibited from working in the banking industry for three years; Warn Zheng Yi, Zhao genniu and Yuan Zhihong.
China Merchants Securities Co.Ltd(600999) Liao Zhiming, chief analyst of banking industry: this penalty amount is relatively large, but it is not high compared with China Minsheng Banking Corp.Ltd(600016) one-year net profit, so it will not affect China Minsheng Banking Corp.Ltd(600016) normal operation. It will serve as a warning for the development of financial management business and entrusted custody business in the banking industry in the future.
