According to the website of the Banking and Insurance Regulatory Commission, the Fujian Branch of the Agricultural Development Bank of China (hereinafter referred to as the "Fujian Branch of the Agricultural Development Bank") was fined 1 million yuan recently.
According to the Administrative Penalty Decision Letter [2022] No. 4 of the Fujian Banking and Insurance Supervision decision, the main facts of violations of laws and regulations (the cause of the case) of the Fujian Branch of the Agricultural Development Bank are: the management of loan payment is not in place; the pre-loan investigation and loan review of fixed asset loans have not been due diligence.
On January 12, 2022, the Fujian Supervision Bureau of the China Banking and Insurance Regulatory Commission (CBIRC) pursued Articles 14 and 15 of the Guidelines for Internal Control of Commercial Banks, Article 36 of the Guidelines on Due Diligence of Commercial Banks in Granting Credit, Article 26 of the Interim Measures for the Administration of Working Capital Loans, Articles 11 and 25 of the Interim Measures for the Administration of Fixed Asset Loans, and Articles 21 and 46 (5) of the Banking Regulatory Law of the People's Republic of China. A total of 1 million yuan was fined to the Fujian branch of the Agricultural Development Bank of China; Jia Lei and Luo Daogui were given warnings and fined 50,000 yuan.
Previously, another branch of the Agricultural Development Bank was fined for "failing to put in place the 'three investigations' of loans."
According to the Administrative Penalty Decision [2021] No. 62 [2021], on September 3, 2021, the Ningbo Banking and Insurance Regulatory Bureau fined the Ningbo Branch of the Agricultural Development Bank of China 300,000 yuan and ordered the branch to give disciplinary punishment to the relevant directly responsible personnel due to the failure of the "three investigations" of the loan. (Zhongxin Jingwei APP)