Xin Lang Cai Jing·2025-06-11 00:42Core Viewpoint - A bribery case involving the general manager of the business development department at Zhejiang Commercial Bank's Shanghai branch has been revealed, highlighting systemic issues within the bank's operations and compliance [1][2][8]. Summary by Sections Case Details - The general manager, Wang, accepted bribes totaling approximately 3.27 million yuan over four instances [1][7]. - Wang was appointed as the general manager on February 29, 2016, and signed a fixed-term labor contract with the bank on February 17, 2020 [3]. Bribery Mechanism - The marketing department, under Wang's leadership, was responsible for supply chain finance and credit analysis [4]. - From 2020, conspirators, including Wang, facilitated financing agreements between Zhejiang Commercial Bank and a company controlled by another defendant, using a series of contracts to channel funds [4][5]. - Wang altered the bank's financing service to favor a specific company, ensuring expedited loan disbursement [4][5]. Legal Consequences - The defendants, Ma and Zheng, were sentenced to two and a half years in prison, with a two and a half year probation, and fined 50,000 yuan each [7]. - Wang, as the recipient of the bribes, has also been sentenced [7]. Regulatory Issues - Zhejiang Commercial Bank's Shanghai branch has faced multiple regulatory penalties, including a fine of 16.8 million yuan for various compliance failures [8]. - Specific violations included improper classification of small enterprises, non-compliance in credit operations, and inadequate management of employee behavior [8][9]. - The bank's systemic risk management failures have been highlighted, affecting its adherence to national financial policies [9]. Historical Penalties - In December 2023, the bank was fined over 17.34 million yuan for improper deposit and loan practices, leading to the lifetime ban of its then-president from the banking industry [10]. - In September 2020, the bank faced fines exceeding 100 million yuan for 31 regulatory violations, including misleading asset reporting [10].