Jan 11, 2022 08:04 PM

FINANCE

Bank of East Asia Unit Fined $2.6 Million for Violating Credit Information Rules

By Kelsey Cheng and Zhang Yuzhe

Photo: VCG

Photo: VCG

China’s central bank has fined a Chinese mainland subsidiary of The Bank of East Asia Ltd. (BEA) 16.74 million yuan ($2.6 million) for violations related to the collection and management of credit information.

The decision to penalize The Bank of East Asia (China) Ltd. (BEA China) was made on Jan. 6, according to a notice released Monday by the Shanghai office of the People’s Bank of China (PBOC).

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