Guangfa Bank responds to being fined 66.7 million yuan: has completed rectification of relevant punishment issues.

On September 12, the penalty disclosed by the China Banking and Insurance Regulatory Commission showed that Guangfa Bank Co., Ltd. and related personnel were administratively penalized for their careless management of related loans, bills, factoring and other businesses, as well as improper regulatory data reporting. Guangfa Bank was fined 66.7 million yuan, while Li Gongfan and Chen Hui were warned and fined a total of 100,000 yuan. On the same day, Guangfa Bank announced on its official website that this penalty was based on the result of a risk management and internal control effectiveness on-site inspection conducted by the China Banking and Insurance Regulatory Commission in 2023, which revealed problems in the bank. The bank sincerely accepts the penalty decision of the regulatory authorities, attaches great importance to implementing regulatory opinions, has completed the rectification of relevant issues, and takes the rectification of problems as an opportunity to comprehensively optimize the long-term mechanism, deepen comprehensive risk management, and solidify the foundation of business management and development. Guangfa Bank stated that it will further implement the Party Central Committee's deployment of financial work, adhere to lawful and compliant operations, firmly guard the bottom line of risks, serve the development of the real economy, and continuously improve the level of high-quality development.