Rural commercial banks net nearly half of all fines
Banking regulators at all levels have issued a total 199 of tickets and 84.87 million yuan (US$12.43 million) in penalties
Rural commercial banks which have become the focus of the market due to their soaring non-performing loan ratios, declining net profits and credit rating downgrades, are turning out to be a key sector for regulation violations, The Paper reported.
According to calculations by the The Paper, in July 2018, banking regulators at all levels have issued a total 199 of tickets and 84.87 million yuan (US$12.43 million) in fines.
One-third of the tickets were given to rural commercial banks, with the amount of fines reaching 41.48 million yuan, accounting for almost half of the total penalties.
Violations mainly include rural commercial banks serving as a channel to illegally accept non-performing asset packages from other banks, distribute liquidity loans to real estate developers, and change equities without approval from regulatory authorities.