Chang Hwa Commercial Bank: The Manila branch has been fined by the Central Bank of the Philippines for insufficient loans related to agriculture.

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Provided by: CHANG HWA COMMERCIAL BANK, LTD.

SEQ_NO

1

Announcement date

2021/12/01

Announcement time

20:09:39

Topic

 Manila Branch was fined by the Central Bank of the
Philippines for insufficient agricultural-related loan.

Date of events

2021/12/01

What element he answers

paragraph 39

Declaration

1.Date of occurrence of the event:2021/12/01
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 September 2018
to December 2019.
3.Monetary amount of fines:
PHP3,888,399.07 (equal to NTD2,376,978�Aexchange rate 0.6113)
4.Status of the injunction by the respective competent authority:
Assessment fee of PHP3,888,399.07
5.Intended improvement measures:
To acquire more agricultural-related loans and bonds.
6.Effect on the Company��s business operations:
Assessment fee of PHP3,888,399.07
7.Any other matters that need to be specified:NA

Disclaimer

CHB – Chang Hwa Commercial Bank Ltd. published this content on 01 December 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 01 December 2021 12:20:05 PM UTC.

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