China fines five banks $56.9 mln for misconduct

The Bank of East Asia

21/05/2021 08:12

BEIJING, May 21 (Reuters) - China's banking and insurance
regulator said on Friday it had fined five banks and relevant
personnel held accountable a total of 366 million yuan ($56.9
million) for misconduct. 
    The banks are Hua Xia Bank  600015.SS , China Bohai Bank
 9668.HK , Bank of China  3988.HK  601988.SS , China Merchants
Bank  600036.SS  and Bank of East Asia's  0023.HK  China branch.
    The regulator will crack down on regulatory arbitrage and
strictly prevent idling of funds, it said in a statement
published on its website.
     

($1 = 6.4338 Chinese yuan renminbi)

 (Reporting by Colin Qian and Ryan Woo; editing by John
Stonestreet)
 ((Reuters Messaging: colin.qian@thomsonreuters.com))