Tianjin-based regional lender China Bohai Bank was fined 17 million yuan ($2.5 million) by the central bank for 12 violations, the financial institution’s third penalty this year.
The People’s Bank of China published the penalty on its website Monday, accusing the bank of multiple counts of misconduct including breaking rules on deposit reserves, credit scoring and anti-money laundering.
Nine employees of the bank were fined a total of 430,000 yuan for their role in the violations, the central bank said.
Bohai Bank Tuesday said the penalty resulted from a 2020 inspection conducted by the central bank. The bank completed rectification and will enhance internal control and risk management, it said.
