The largest shareholder of the bank is Wenzhou State-owned Financial Capital Management Co., Ltd. In 2007, Wenzhou Bank began to operate across regions and set up branches in Shanghai, Hangzhou and Ningbo. At present, China Banking and Insurance Regulatory Commission has imposed a fine of 700,000 yuan on the violations of Quzhou Branch.
Many banking institutions and relevant responsible persons have violated the law, among which the loan business is illegal. It is mainly illegal, loan management is not in place, and personal credit funds are illegally misappropriated. The reasons why the post-loan inspection was not due diligence, the operating loans issued flowed into real estate, and the reasons why the three loan inspections were not in place were all to punish the hardest hit areas.
Almost all types of commercial banks are involved in these illegal acts. In addition, inaccurate five-level classification of credit assets, inadequate internal control and compliance risk management, and lax internal control management are also the focus of punishment, and many banks have been punished for inadequate or inadequate loan management.
Banks should strictly examine this kind of illegal behavior, and fines are not a big deal for banks. To really avoid this kind of thing from happening again, they should be severely punished. No matter what industry you are engaged in, you should abide by laws and regulations, don't ignore the existence of laws in China, and hope that the heads of banks can be in place.