Recently, the People’s Bank of China Zhejiang Branch issued a fine of 7.175 million yuan and a warning to Jinhua Bank, along with fines ranging from 10,000 to 50,000 yuan for 11 responsible individuals.
The penalty notice shows that Jinhua Bank’s violations mainly include the following eight items: 1. Violation of account management regulations; 2. Violation of merchant management regulations; 3. Violation of counterfeit currency business management regulations; 4. Occupying fiscal deposits or funds; 5. Violation of credit information collection, provision, inquiry, and related management regulations; 6. Failure to perform customer identification obligations as required; 7. Failure to report large-value transactions or suspicious transactions as required; 8. Conducting transactions with unidentified customers.
It is noteworthy that this penalty also involved 11 responsible individuals, including branch presidents, and deputy general managers of the operations department, retail business department, legal compliance department, and information technology department. Among them, the then president of Jinhua Bank Hangzhou Branch, the president and vice president of the Development Zone Sub-branch were held responsible for “failure to perform customer identification obligations as required” and were each fined 10,000 yuan; the then president of Jinhua Bank Yongkang Sub-branch and vice president of Taizhou Branch were held responsible for “conducting transactions with unidentified customers” and were each fined 10,000 yuan.
The then deputy general manager of Jinhua Bank’s Operations Department (acting head) was warned and fined 50,000 yuan for being responsible for “violation of account management regulations”; the then deputy general manager of Jinhua Bank’s Retail Business Department (acting head) was warned and fined 50,000 yuan for being responsible for “violation of merchant management regulations”.
Additionally, for being responsible for “failure to perform customer identification obligations as required” and “failure to report large-value transactions or suspicious transactions as required”, the then general manager of Jinhua Bank’s Legal Compliance Department was fined 40,000 yuan. The then deputy general manager of Jinhua Bank’s Information Technology Department (acting head) and the general manager of the Information Technology Department were fined 30,000 yuan each for being responsible for “failure to report large-value transactions or suspicious transactions as required”.
Jinhua Bank was established in December 1997. It currently has 112 business outlets in Zhejiang Province, with over 2,200 employees. It has established 7 branches in Hangzhou, Jiaxing, Huzhou, Wenzhou, Taizhou, Quzhou, and Yiwu, and has set up one village bank. As of the end of June, the total assets under the consolidated口径 were 121.634 billion yuan, an increase of 10.42% compared to the same period last year; total liabilities were 113.749 billion yuan, and total owner’s equity was 7.885 billion yuan. From January to June, the net profit attributable to the parent company was 384 million yuan, an increase of 4.92% year-on-year.
