Former Bank of East Asia China Unit Exec Banned From Banking for 10 Years

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The Bank of East Asia's branch in Xi'an, Shaanxi province. Photo: VCG

China’s top financial watchdog has banned a former executive of The Bank of East Asia (China) Ltd. (东亚银行(中国)有限公司) from engaging in banking work for 10 years due to loan oversight failures.

Han Xiping, who used to be president of the bank’s Xi’an branch, was penalized for the branch’s misconduct, including serious negligence in pre-loan investigations, lack of prudence in loan approvals, and inadequate post-loan management, according to a notice released recently by the National Financial Regulatory Administration (NFRA).

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China’s NFRA banned Han Xiping from banking for 10 years due to loan oversight failures at The Bank of East Asia (China).
The bank’s Xi’an branch was cited for negligence in loan investigations, approvals, and management.
The bank faced fines of 16.7 million yuan in 2022 and 11.2 million yuan in 2021 for various regulatory violations.

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Who’s Who

The Bank of East Asia (China) Ltd.: The Bank of East Asia (China) Ltd., established in 2017, is a subsidiary of The Bank of East Asia Ltd., which was founded in Hong Kong in 1918. It has faced several penalties in China, including a $2.3 million fine in 2022 for credit information violations and an 11.2 million yuan fine in 2021 for lending rule violations. Former Xi’an branch president Han Xiping was banned from banking for 10 years due to loan oversight failures.

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What Happened When

Set up in 2017：: The Bank of East Asia (China) Ltd. was established as a Chinese mainland subsidiary of The Bank of East Asia Ltd.

2021：: The Bank of East Asia (China) Ltd. was fined 11.2 million yuan for violating rules on lending to property developers.

2022：: The Bank of East Asia (China) Ltd. was fined 16.7 million yuan by the central bank for violations related to the collection and management of credit information.

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