Local banking regulator in the city of Ningbo in eastern China's Zhejiang province fined 12 commercial banks for irregularities in their lending activities, especially for improper loans granted to the real estate sector.
The local branch of China Banking and Insurance Commission in the city of Ningbo issued 35 penalties for 12 banks, with a value of more than 10 million yuan, according to a statement released the regulator on Thursday
Ningbo branch of Zheshang Bank was fined 500 . . .
To continue reading, please subscribe. You will get
- Original and in-depth reporting with details, data and perspectives you don't read elsewhere
- THE WIRE - a real-time financial news platform focused on China
- Daily Brief newsletter to get you prepared for every trading day
- An indispensable and reliable source of information on China's economy and financial markets
We highly value independence. We are solely funded by subscriptions from thousands of readers like you. Not ready for our full service? Try Free Weekly Newsletter first.
Already have an account? Sign In