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Major Chinese banks report fewer criminal cases in first six months |
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08:16, July 06, 2007 |
The five major Chinese commercial banks reported 53 criminal cases in the first half of 2007, down 58 percent from last year, the China Banking Regulatory Commission (CBRC) said on Thursday.
Cases involving more than one million yuan dropped 51 percent from last year to 18 in the five banks, namely the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, the Agricultural Bank of China and the Bank of Communications.
A total of 385 million yuan was involved in the 53 cases, down 69 percent on last year, said CBRC chairman Liu Mingkang.
Meanwhile, the five banks tackled 111 cases internally during the six months and recovered 450 million yuan.
In June, the CBRC punished the branches of eight local banks for failing to prevent two clients from misappropriating loans of 4.46 billion yuan. (one U.S. dollar equals to 7.61 yuan)
Source: Xinhua
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