Industrial Bank Co Ltd

Three Chongqing sub-branches of Industrial Bank have been hit with administrative penalties for loan business violations. The Dadukou sub-branch was fined 250,000 yuan for inadequate loan checks, and the responsible person Zheng Hua was fined 50,000 yuan. The Gaoxin sub-branch was fined 250,000 yuan for issuing loans without genuine funding needs, and the responsible person Zhao Ying was fined 50,000 yuan. The Jiulongpo sub-branch was also fined 250,000 yuan for inadequate loan checks, and the responsible person Su Yang was fined 50,000 yuan. The penalties were announced by the National Financial Regulatory Administration on July 24.

Guoyuan Securities has responded to the incident involving a 64-year-old illiterate elderly person being signed up for an account, stating that the relevant account opening procedures followed the required steps. The company's review found that the individual, Ms. Hu, was 62 years old at the time of account opening, possessed full capacity for civil conduct, and met the eligibility requirements for a securities account. Guoyuan Securities emphasized that in its cooperation with Industrial Bank, it has always complied with regulatory requirements and has not entrusted the bank or any other third party to solicit investors. The company is currently in communication with Ms. Hu and her family, and will respect her wishes in assisting with subsequent procedures. Earlier, the Hefei branch of Industrial Bank admitted that the signature on the business documents was not in the client's own handwriting and apologized, stating it would cooperate in handling the involved account and hold relevant personnel accountable.