Bank of Communications responds to being fined 67.8343 million yuan by the Central Bank.

On December 19, the People's Bank of China released its administrative penalty information, showing that Bank of Communications was warned for violating account management regulations and was also fined 67.8343 million yuan with confiscated illegal gains of 239,821.16 yuan. Bank of Communications responded to this by saying that from November 2022 to April 2023, the People's Bank of China conducted a comprehensive law enforcement inspection on Bank of Communications. The current penalty is based on issues discovered during the above-mentioned inspection, and the issues involved in the penalty all occurred before 2023. "Bank of Communications sincerely accepts and attaches great importance to this, has completed rectification work, and takes this as an opportunity to learn from mistakes, continuously optimize long-term mechanisms. The bank will continue to strengthen internal control and compliance management, cultivate a culture of stable and prudent operation, continuously improve operational management level, and achieve new results in promoting high-quality development," the bank said.