As of December 31, Bank of China NZ had gross loans of $345.919 million including residential mortgages of $33.759 million, and corporate loans of $309.387 million. Total deposits stood at $214.180 million, and total assets at $514.534 million.
world headlines involving bank of china. 1- bloomberg(jesse hamilton jan 19 2016 )bank of china targeted by us for money laundering controls. 2-nz herald (feb 18 2017) bank of china fined $ 640,000 & $ 980,000 euros seized in italian money laundering scheme.3-the economist .china corruption bank.wang xuebing sentenced to 12 years prison for misdeeds when was employed as an official with the bank of china.4-south china morning post (feb 5 2016 ).corruption & fraud found across chinas financial industry. 5- standard & poors (paul coughlin )as chinese banks improve internal audits & centralise management they will uncover more fraud. 6-reuters(tiffany robertson july 2016)regulatory investigators in usa & europe forcing chinas banks to focus on there shortcomings in risk management & compliance programmes. another burden for the nz taxpayer as more resources will be required to monitor the “irregular activity “of chinese banks operating here plus repercussions from there presence which other countries have experienced (fraud,laundering,bribery,off book gains,etc.)
the other chinese banks operating in nz have a similiar array of media condemnations.icbc ordered to pay 32.5 million dollars to britain & tanzania for bribery failings.former china construction bank head j(zhang enzhao)ailed for bribery & was sentenced to 15 years jail.when it comes to the chinese & there detrimental course its a never ending story. http://www.scmp.com/article/726833/icbc-chief-corruption-charges
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