Hua Nan Financial : Announcement on behalf of subsidiary HNCB Manila Branch was fined by the Central Bank of the Philippines for insufficient agriculture-related loan.
Announcement on behalf of subsidiary HNCB
Manila Branch was fined by the Central Bank of the
Philippines for insufficient agriculture-related loan.
Date of events
2022/08/18
To which item it meets
paragraph 39
Statement
1.Date of occurrence of the event:2022/08/18
2.Circumstances of the violation:Manila Branch has not met the minimum
amount required to be allocated for agriculture loan set by Bangko Sentral
ng Pilipinas (Central Bank of Philippines) in the period of January 2021 to
December 2021.
3.Monetary amount of fines:PHP 2,883,245.81(equal to NTD 1,558,394,
exchange rate 0.5405)
4.Status of the injunction by the respective competent authority:
Assessment fee of PHP 2,883,245.81.
5.Intended improvement measures:To acquire more agriculture-related bonds.
6.Effect on the Company's business operations:
Assessment fee of PHP 2,883,245.81.
7.Any other matters that need to be specified:None
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HUANAN Financial Holdings Co. Ltd. published this content on 18 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2022 13:23:05 UTC.
Hua Nan Financial Holdings Co Ltd is a Taiwan-based financial holding company principally engaged in the investment business and the management of investment business, including the personal financing and corporate financing services. The Companyâs primary businesses include the provision of corporate banking, consumer banking, financial trading, foreign exchange trading, electronic financing, trust and wealth management, securities brokerage, underwriting and proprietary business, fire insurance, flood insurance, automobile insurance, health insurance, trust investment, financial management consulting, capital investment and asset management businesses. The Company mainly operates the banking business segment and the other operations business segment.
Hua Nan Financial : Announcement on behalf of subsidiary HNCB Manila Branch was fined by the Central Bank of the Philippines for insufficient agriculture-related loan.
HUA NAN FINANCIAL HOLDINGS CO., LTD. 
