Xinwang Bank has received nearly 340,000 fines, with total penalties amounting to nearly 9 million since 2022.

Xinnet Bank Receives a New Fine!

Recently, the China People’s Bank Sichuan Branch Administrative Penalty Decision Public Notice showed that Xinnet Bank was fined 337,000 yuan and given a warning for violations including “violating account management regulations, violating financial technology management regulations, and violating regulations on the collection, provision, and inquiry of credit information.”

According to official website information, Xinnet Bank is one of three internet banks nationwide. It officially opened on December 28, 2016, with a registered capital of 3 billion yuan. It was initiated by shareholders such as New Hope Group, Xiaomi, and Hongqi Chain. It is the seventh private bank approved by the China Banking and Insurance Regulatory Commission and the first private bank in Sichuan Province.

Ciqi Finance has summarized that since 2021, Xinnet Bank has received at least four fines, totaling nearly 9 million yuan in penalties and fines.

In July 2021, Xinnet Bank received its largest fine to date of 6.3 million yuan, due to “failing to perform customer identity verification obligations as required; failing to retain customer identity information and transaction records as required; failing to report large transactions or suspicious transactions as required; conducting transactions with unidentified customers.”

In April 2022, due to violations of credit information collection, provision, inquiry, and related management regulations, Xinnet Bank was fined 200,000 yuan by the Chengdu branch of the People’s Bank of China.

In August of the same year, the China Banking and Insurance Regulatory Commission fined Xinnet Bank 1.99 million yuan. The violations included: failing to report major risk events to regulators as required; inadequate post-loan management of corporate loans, misappropriation of loan funds; negligence in the “three checks” for personal loans, misappropriation of loan funds, and illegal transfer of operating costs; insufficient pre-loan due diligence for auto loans, seriously violating prudent operation rules.

Performance-wise, in the first half of 2025, Xinnet Bank achieved a revenue of 3.412 billion yuan, a year-on-year increase of 14.16%; net profit reached 486 million yuan, up 21.55% year-on-year.

In terms of asset quality, as of the end of June 2025, Xinnet Bank’s total assets were 105.696 billion yuan, an increase of 1.99% from the beginning of the year; total liabilities were 97.257 billion yuan, up 1.65% from the start of the year.

Notably, in recent years, Xinnet Bank’s non-performing loan ratio has shown an overall upward trend. From 2019 to 2024, the non-performing loan ratios were 0.61%, 1.19%, 1.05%, 1.73%, 1.72%, and 1.69%, respectively.

Source: Ciqi Finance

Author: Shen Mo

Disclaimer: This article is for knowledge sharing only and aims to convey more information! It does not constitute any investment advice. Anyone making investment decisions based on this information does so at their own risk.