Fined 97.9 million yuan, Bank of China responds: rectification has been basically completed.

The list of administrative penalties disclosed by the China Banking and Insurance Regulatory Commission shows that China Bank was fined 97.9 million yuan. The fine was imposed for the bank's careless management of asset quality and other businesses, and five responsible persons were fined simultaneously. In response to this, China Bank stated that the penalty was based on issues discovered during a risk management and internal control effectiveness on-site inspection in 2023. China Bank attaches great importance to this, takes immediate actions for improvement, deeply analyzes the reasons, insists on drawing lessons from this case, solidly promotes rectification, and holds people accountable. The bank has now basically completed the rectification process. In the next step, China Bank will continue to operate in compliance with laws and regulations, continuously improve risk management and internal control capabilities, and serve the high-quality development of the real economy.