Hubei Zhongxiang Rural Commercial Bank fined 600,000 yuan, multiple responsible persons issued warnings

Radar Finance Text | Yang Yang Edited | Li Yihui

On February 14th, the Jingmen Financial Regulatory Bureau disclosed an administrative penalty information form showing that Hubei Zhongxiang Rural Commercial Bank Co., Ltd. and related responsible persons were fined 600,000 yuan by the Jingmen Financial Regulatory Bureau for personal loans not implementing entrusted payment regulations, inadequate post-loan monitoring, and using loan funds for purposes other than those agreed upon. Warnings were issued to Shi Jiangbo, Shi Xiang, Liu Hongxing, Lin Xueming, and Yao Wei.

According to Tianyancha data, Hubei Zhongxiang Rural Commercial Bank Co., Ltd. was established on June 29, 2015, with its registered address at No. 55 Mo Chou Avenue, Zhongxiang City, Hubei Province. Its business scope includes: accepting public deposits; issuing short-term, medium-term, and long-term loans; handling domestic settlements; processing bill acceptance and discounting; acting as an agent for issuing, redeeming, and underwriting government bonds; buying and selling government bonds and financial bonds; engaging in interbank lending; processing bank card (debit card) services; issuing credit cards using the unified credit card brand of the provincial cooperative; acting as an agent for collection and payment and insurance services; providing safe deposit box services; and other businesses approved by the China Banking and Insurance Regulatory Commission. (Projects that require approval according to law can only be operated after approval by relevant departments).

In terms of risks, Tianyancha statistics show that the company has identified 500 internal risks, 888 surrounding risks, 2,190 historical risks, and 308 warning alerts.