On the first day of December, the State Administration of Financial Supervision and Administration disclosed 22 regulatory fines, involving China Construction Bank, Bank of China, Agricultural Bank of China, China CITIC Bank, Minsheng Bank, Bohai Bank, etc. On the same day, the central bank disclosed the fine imposed on the Bank of China.
Among them, the total amount of fines confiscated by the four largest amounts, namely CCB, Bank of China, Agricultural Bank of China, and CITIC, amounted to 32.7 billion yuan, of which China CITIC Bank received 2A large fine of 2.5 billion yuan involved 56 violations of laws and regulations.
Specifically, CCB was confiscated of its illegal gains and fined a total of 3,791880,000 yuan. Among them, the head office is 2041880,000 yuan, branches 17.5 million yuan. The fine involved 18 violations of laws and regulations, such as "a single outlet cooperated with more than 3 insurance companies in the same fiscal year", most of which involved non-standard consignment sales.
Agricultural Bank of China was confiscated of illegal gains and fined a total of 2,710970,000 yuan. Among them, the head office is 570970,000 yuan and 21.4 million yuan for branches, including 13 violations of laws and regulations such as "working capital loans are used for fixed asset investment", and the problems are mainly concentrated in the credit field.
Bank of China was warned by the central bank on the same day and confiscated its illegal gains37340,000 yuan, a fine of 366420,000 yuan. It involves 12 issues such as account management, clearing management, merchant management, reserve management, and RMB anti-counterfeiting.
In contrast, China CITIC Bank received a large fine this time, and the head office was fined 15,242590,000 yuan, confiscation of illegal gains 462590,000 yuan, and the relevant branches were fined 67.7 million yuan, with a total fine of about 2RMB2.5 billion, involving 56 issues, including senior management access, related party loan management, performance appraisal, related party transaction disclosure, unified credit management, case prevention and control and other business and management issues.
Most of the above-mentioned bank fines were issued at the end of November, and according to the reporter's understanding, most of the problems involved occurred before 2019, and most of them have been rectified. Taking China CITIC Bank as an example, the bank responded that the problems involved in the punishment occurred in 2019 and previous years, and the bank said that it had completed all rectifications in accordance with the regulatory opinions and seriously dealt with the relevant responsible persons.
China CITIC Bank also said that the penalty and the previous judicial authority's judgment on the case of serious violations of discipline and law by the then president Sun Deshun fully reflect the requirements of "comprehensively strengthening financial supervision and effectively preventing and resolving financial risks" put forward by the ** Financial Work Conference, and the bank sincerely accepts, resolutely obeys and firmly implements.
In addition to the above-mentioned state-owned banks and joint-stock banks, the fines also involved a number of asset management companies, wealth management subsidiaries and insurance companies, including IB Wealth Management, Sun Life Everbright Asset Management, United Asset Management, China Life Asset Management, Chinese People's Insurance Company, Sunshine Property Insurance, China Post Life Insurance, Lujiazui Cathay Life Insurance, etc. In addition, on the same day, the local branch of the State Administration of Financial Supervision and Administration also issued a new batch of fines, involving Bank of Ningbo, Guangfa Bank, China Merchants Bank and a number of village banks.