Involving illegal and non-compliant conduct such as imprudent issuance of fixed-asset loans, Shanghai Pudong Development Bank’s Wuhan Branch was fined 2.45 million yuan

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Recently, the administrative penalty information disclosed by the Hubei Regulatory Bureau of the China Banking and Insurance Regulatory Commission shows that the Wuhan Branch of Shanghai Pudong Development Bank Co., Ltd. was fined 2.45 million yuan for imprudent issuance of fixed asset loans, resulting in risks, and for negligence in pre-loan investigation and post-loan management of working capital loans. The responsible persons Long Li and Wang Jingzhong were given warnings, while Duan Xiaogang, Zhang Rubing, and Yu Bo were given warnings and fined a total of 150k yuan.

(China Banking and Insurance Regulatory Commission)

(Edited by: Qian Xiaorui)

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