ZJB(SH:601860) Sou Hu Cai Jing·2025-07-24 11:08Core Viewpoint - Zijin Bank has faced significant regulatory penalties due to multiple compliance violations, highlighting ongoing issues in internal controls and consumer protection practices [2][3][6]. Regulatory Penalties - Zijin Bank was fined a total of 2.4 million yuan for seven violations, marking the largest penalty in the past three years [2]. - Previous fines included 500,000 yuan for improper loan practices and 996,000 yuan for anti-money laundering compliance failures [2]. Internal Control Issues - The bank's internal controls in payment settlement, data governance, and consumer protection are identified as areas needing improvement [3]. - Specific issues include inadequate management of account opening and payment processes, insufficient data accuracy, and violations of consumer protection mechanisms [3]. Risk Management Practices - Zijin Bank has focused on enhancing risk management processes, particularly in credit, liquidity, and market risks [3]. - The bank has established mechanisms for addressing non-performing loans and has formed special teams to promote compliance [3]. Industry Context - Over the past three years, A-share listed rural commercial banks have collectively faced over 100 million yuan in regulatory penalties, indicating a broader trend of compliance challenges within the sector [3]. - Among the ten rural commercial banks in the A-share market, Zijin Bank ranks fifth in total assets at 280.3 billion yuan [4]. Consumer Protection Concerns - The bank's practices in its inclusive finance department have raised concerns regarding unauthorized collection and sharing of credit information, impacting consumer privacy [6]. - Despite efforts to enhance consumer protection, broader issues related to consumer rights have not been adequately addressed in the bank's ESG reporting [6]. Complaint Statistics - In 2024, Zijin Bank received 537 complaints, primarily related to loan services, card services, and customer service [8]. - The bank's complaint rate is moderate compared to peers, with 12.03 complaints per billion yuan in revenue [8]. ESG Performance - Zijin Bank has maintained a BBB rating in the Wind ESG rating system, indicating a mid-level performance among domestic listed banks [10]. - The bank's green loan balance reached 14.3 billion yuan, growing at a rate of 16.81%, ranking third among its peers [13].