Ningbo Yongcheng Rural Commercial Bank was fined 3.95 million yuan for illegally absorbing deposits through improper means, and 5 people were issued warnings.

On December 26, the penalty announced by the Ningbo Financial Regulatory Bureau showed that Ningbo Yongcheng Rural Commercial Bank Co., Ltd. and related responsible persons received a penalty of millions of yuan. The penalty showed that Ningbo Yongcheng Rural Commercial Bank was fined 3.95 million yuan for nine illegal and irregular behaviors such as failure to rectify problems found during inspections, lack of cautiousness in internal control, lack of cautiousness in staff behavior management, lack of cautiousness in bill business management, lack of cautiousness in credit management, inaccurate classification of credit assets risk, falsification of accounting information and statistical data, improper collection of deposits through unfair means, and non-standard behavior in wealth management sales.