Guangxi Luocheng Rural commercial Bank was fined 750,000 yuan because of illegal equity pledge business

China Network Finance on January 28, according to the CBRC official website news, the CBRC River Pool supervision branch published administrative penalty information disclosure form River Bank Supervision Penalty [2022] No. 1 shows that Guangxi Luocheng Rural Commercial Bank Co., Ltd. for violation of equity pledge business;Illegal organizations issue real estate community loans;In accordance with Article 46 of the Banking Supervision And Management Law of the People’s Republic of China, Hechi Supervision Sub-Bureau will impose a fine of RMB 750,000 on the client for failing to provide unified credit extension to the group customers. The penalty date is January 26, 2022.