December 7, 2018 / 12:41 PM / 3 days ago

China's regulator fines six lenders for violating regulations

HONG KONG, Dec 7 (Reuters) - China’s banking and insurance regulator said on Friday it has fined six Chinese banks, including Bank of Communications Co Ltd and China Minsheng Banking Corp Ltd , and two banking officers for violating regulations.

The six banks were fined between 7.4 million yuan ($1 million) and 55.5 million yuan each, the regulator said in 10 separate statements on its website www.cbrc.gov.cn.

The fines were for breaking different regulations, ranging from disclosure of information regarding wealth management products to internal governance issues at banks.

The other four banks are China Everbright Bank Co Ltd , China Citic Bank Corp Ltd , China Zheshang Bank Co Ltd and China Bohai Bank, the regulator said.

$1 = 6.8817 Chinese yuan renminbi Reporting by Twinnie Siu in Hong Kong and Lee Chyen Yee in Singapore Editing by Susan Fenton

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