ICBC punishes 137 workers for graft
Print Edition
THE Industrial and Commercial Bank of China, the country’s largest lender by assets, said it penalized 137 employees for corruption amid a crackdown in the finance industry.
Fourteen employees were expelled from the Party or removed from their posts due to “serious breaches of Communist Party discipline”, while others were warned or demoted to other posts, ICBC’s disciplinary committee said in a statement released yesterday.
Offences included attending banquets; getting receptions that that exceeded the normal standard; going on trips funded by clients; and accepting cash and gifts from subordinates during wedding ceremonies or funerals, ICBC said in a statement.
The crackdown followed a wide investigation on the finance industry by the Party’s Central Commission for Discipline Inspection starting in October.
Separately, Zhang Yun, president at the Agricultural Bank of China, one of the nation’s biggest four banks, resigned for “personal reasons”, said the bank’s statement on December 4.
CITIC Securities Co said on Saturday it has lost contact with two executives.
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