Yushu Rongxin Rural Bank Violated Regulations and Was Fined for Being a Fully-Owned Subsidiary of Harbin Bank
China Economic Net Beijing August 12, 2023 News. According to the information disclosed on the website of the People's Bank of China Jilin Province Branch (JYLB-2025-4-5), Yushu Rongxin Rural Bank Co., Ltd. failed to perform its obligations regarding customer identification as required. The People's Bank of China Jilin Province Branch imposed a fine of 250,000 yuan on the company.
Yang (former general manager of the Risk and Compliance Department at Yushu Rongxin Rural Bank Co., Ltd.) is responsible for the illegal behavior of failing to perform customer identification obligations as required. The People's Bank of China Jilin Province Branch imposed a fine of 17,500 yuan on him.
According to Harbin Bank's 2024 annual report, Yushu Rongxin Rural Bank Co., Ltd. is a fully-owned subsidiary of Harbin Bank, with a shareholding ratio of 100%.
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