CITIC Bank Lanzhou Branch was fined 1.4 million yuan by the Gansu regulatory bureau for failing to strictly implement regulations on actual loan disbursement and entrusted payment, among other violations. According to administrative penalty information released on September 30, Song Xiaoying, then deputy general manager of the inclusive finance department at CITIC Bank Lanzhou Branch, received a warning and a fine of 50,000 yuan for the same violations. Bian Xiaodong, then deputy general manager of the corporate banking department, also known as the rural revitalization department, at CITIC Bank Lanzhou Branch, was also warned and fined 50,000 yuan for the same violations.
China Citic Bank Corp Ltd Class ACITIC Bank's Lanzhou Branch was fined 1.4 million yuan by the Gansu regulatory bureau for loan disbursement and entrusted payment violations.
