Bank of Hangzhou controversies

Fined 1.1 million yuan for entrusted loan fees and submitting erroneous data to regulators

In August 2024, the Zhejiang Financial Regulatory Bureau fined Bank of Hangzhou 1.1 million yuan for issues including illegally charging entrusted loan fees, imprudent risk asset weight measurement, reporting erroneous data, and EAST data quality problems.

Zhoushan Branch Fined 1 Million Yuan for Imprudent Management of Loan Purposes

In March 2024, the Zhoushan Branch of Bank of Hangzhou was fined 1 million yuan for imprudent management of financial leasing cooperation business and personal loan management, and for using working capital loans for fixed asset construction; the relevant account manager was warned.

Fined 5.8 million yuan for anti-money laundering violations including transactions with unidentified customers

In 2022, the People's Bank of China Hangzhou Central Sub-branch fined Bank of Hangzhou 5.8 million yuan for violations including customer identity verification, suspicious transaction reporting, and conducting transactions with unidentified customers, and held relevant personnel accountable.

China Yintai fined for unreported acquisition

Fine or penalty

China’s State Administration for Market Regulation fined China Yintai Investment Co., Ltd. RMB 500,000 for acquiring a 34.92% stake in Hangyin Consumer Finance and obtaining joint control without filing the concentration for review. The regulator determined that the transaction violated the Anti-Monopoly Law.

Penalized by the central bank for violations in statistics, accounts, credit reporting, and anti-money laundering

In January 2017, the Hangzhou Central Sub-branch of the People's Bank of China imposed penalties on Bank of Hangzhou for multiple violations including financial statistics, fiscal treasury, accounts, credit reporting, and anti-money laundering; this entry consolidates the same penalty decision.

Ningbo Branch Penalized RMB 600,000 over Bill Background and Project Loan Documents

In April 2017, the Ningbo Branch of Bank of Hangzhou was fined RMB 200,000 on each of three counts, including inadequate interbank internal controls, inauthentic trade background for bills, and altered copies of project approvals. In April 2017, the Ningbo Branch of Bank of Hangzhou was fined RMB 200,000 on each of three counts: inadequate interbank business internal controls, inauthentic trade background for bills, and alteration of a photocopy of a project approval document.