Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2023
Fined 2.2 Million Yuan for Issues Including Out-of-Region Internet Loans and Credit Witness Rectification
Ningbo Regulatory Penalty No. 1 of 2023 cited Bank of Ningbo for six issues, including out-of-region internet loans, prudent operation of internet loans, and credit witness rectification, and imposed a fine of 2.2 million yuan. Recorded separately from the 2022 real estate credit penalty of the same amount.
2022
Fined 2.7 Million Yuan for Inadequate Management of Compensation, Related-Party Transactions, and Credit Fund Usage
On April 21, 2022, Bank of Ningbo was fined 2.7 million yuan by the Ningbo Banking and Insurance Regulatory Bureau for eight issues, including compensation, related-party transactions, green credit, risk classification, and bills.
2022
Fined 2.2 Million Yuan for Illegal Inflow of Credit Funds into Real Estate
On April 11, 2022, Bank of Ningbo was fined 2.2 million yuan for issues including illegal inflow of funds into real estate, illegal financing for land reserve projects, and inadequate real estate credit management. Recorded separately from the April 21 penalty.
2022
Lishui Branch Fined 950,000 Yuan for Lax Loan Usage Control
In 2022, the Lishui Branch of Bank of Ningbo was fined 950,000 yuan by regulators for inadequate post-loan management and misappropriation of credit funds, and relevant personnel were warned.
2022
Jinhua Branch Fined 1.45 Million Yuan for Diverting Loan Funds into Home Purchases and Wealth Management Products
In July 2022, the Bank of Ningbo's Jinhua Branch was fined 1.45 million yuan for issues including inadequate three-check due diligence on loans, diverting funds into home purchases and wealth management products, and misuse of working capital loan proceeds.
2022
Quzhou Branch Fined 450,000 Yuan for Misappropriation of Personal Credit Funds
In April 2022, the Bank of Ningbo's Quzhou Branch was fined 450,000 yuan for inadequate loan management and the irregular misappropriation of personal loan funds. The penalty is recorded separately from those of the Jinhua and Lishui branches.