sharon sanders
Editor-in-Chief & President
HSBC fined 450,000
August 09, 2020 22:19 Hebei Comprehensive Broadcasting
The administrative penalty information of the Shanghai branch published on the website of the Shanghai Headquarters of the People's Bank of China on August 6 showed that HSBC Bank violated the law due to credit inquiry, and the vice president and general manager were all fined for a total of 530,000 yuan.
Screenshot of the administrative penalty information announcement form of the People's Bank of China Shanghai Branch
The Administrative Penalty Decision (Shanghai Yinpuzi [2020] No. 23-26) shows that HSBC Bank (China) Co., Ltd. has violated the type of credit inquiry without the authorization of customers, and was fined 450,000 by the Shanghai Branch of the People's Bank of China yuan.
Li Feng, the vice president of HSBC and director of the retail banking and wealth management business department at the time, was responsible for HSBC's unauthorized credit inquiries by customers and was fined 50,000 yuan by the Shanghai Branch of the People's Bank of China.
Li Hualun, the general manager of the Guangdong Retail Banking and Wealth Management Business Department of HSBC at the time, was responsible for HSBC's unauthorized credit inquiries by customers and was fined 20,000 yuan by the Shanghai Branch of the People's Bank of China.
Zheng Guowei, the general manager of the collection department under HSBC's retail banking and wealth management business department at the time, was responsible for HSBC's unauthorized credit inquiry and was fined 10,000 yuan by the Shanghai branch of the People's Bank of China.
HSBC's performance fell sharply in the first half of the year. According to HSBC's first-half financial report released on the 3rd, due to the impact of the new crown epidemic, geopolitics and market factors, the company's profits and revenue have fallen sharply, and credit losses have continued to increase.
The financial report shows that compared with the same period last year, HSBC's pre-tax profit in the first half of this year fell by about 65% to US $ 4.3 billion ; revenue fell by about 9% to US$26.7 billion; expected credit losses increased by US$5.7 billion to 6.9 billion Dollar.
HSBC Group Chief Executive Noel Quinn said that the business in the first half of the year was mainly affected by the outbreak of the new crown epidemic, falling interest rates, increased geopolitical risks and increased market volatility. In response to the epidemic, the group partially suspended the "transformation plan" launched in February this year and is now "preparing to accelerate the implementation" of the plan. According to this plan, HSBC will lay off 35,000 employees in the next three years, accounting for 15% of its global workforce.
HSBC is one of the world's largest banking and financial service institutions, headquartered in the UK, with a business network covering more than 60 countries and regions in Europe, Asia and North America, and more than 230,000 full-time employees.
https://cj.sina.com.cn/articles/view...i?from=finance
August 09, 2020 22:19 Hebei Comprehensive Broadcasting
The administrative penalty information of the Shanghai branch published on the website of the Shanghai Headquarters of the People's Bank of China on August 6 showed that HSBC Bank violated the law due to credit inquiry, and the vice president and general manager were all fined for a total of 530,000 yuan.
The Administrative Penalty Decision (Shanghai Yinpuzi [2020] No. 23-26) shows that HSBC Bank (China) Co., Ltd. has violated the type of credit inquiry without the authorization of customers, and was fined 450,000 by the Shanghai Branch of the People's Bank of China yuan.
Li Feng, the vice president of HSBC and director of the retail banking and wealth management business department at the time, was responsible for HSBC's unauthorized credit inquiries by customers and was fined 50,000 yuan by the Shanghai Branch of the People's Bank of China.
Li Hualun, the general manager of the Guangdong Retail Banking and Wealth Management Business Department of HSBC at the time, was responsible for HSBC's unauthorized credit inquiries by customers and was fined 20,000 yuan by the Shanghai Branch of the People's Bank of China.
Zheng Guowei, the general manager of the collection department under HSBC's retail banking and wealth management business department at the time, was responsible for HSBC's unauthorized credit inquiry and was fined 10,000 yuan by the Shanghai branch of the People's Bank of China.
HSBC's performance fell sharply in the first half of the year. According to HSBC's first-half financial report released on the 3rd, due to the impact of the new crown epidemic, geopolitics and market factors, the company's profits and revenue have fallen sharply, and credit losses have continued to increase.
The financial report shows that compared with the same period last year, HSBC's pre-tax profit in the first half of this year fell by about 65% to US $ 4.3 billion ; revenue fell by about 9% to US$26.7 billion; expected credit losses increased by US$5.7 billion to 6.9 billion Dollar.
HSBC Group Chief Executive Noel Quinn said that the business in the first half of the year was mainly affected by the outbreak of the new crown epidemic, falling interest rates, increased geopolitical risks and increased market volatility. In response to the epidemic, the group partially suspended the "transformation plan" launched in February this year and is now "preparing to accelerate the implementation" of the plan. According to this plan, HSBC will lay off 35,000 employees in the next three years, accounting for 15% of its global workforce.
HSBC is one of the world's largest banking and financial service institutions, headquartered in the UK, with a business network covering more than 60 countries and regions in Europe, Asia and North America, and more than 230,000 full-time employees.
https://cj.sina.com.cn/articles/view...i?from=finance