Date
17 October 2017

Bank of China executive said to be under probe, report says

Wang Yongli, vice president and executive director of Bank of China Ltd. (601988.CN, 03988.HK), is under investigation by the Central Commission for Discipline Inspection on allegations of corruption, Hong Kong’s Ming Pao Daily reported Tuesday, citing unnamed sources. Wang, 50, has been in charge of the state-owned bank’s finance and information technology operations, according to the newspaper. After the news, BOC issued an online statement stating that Wang recently attended a meeting of the global transaction services organization SWIFT in an apparent bid to dispel the rumors, the report said. However, an unnamed source told China Business News that Wang did not participate in the Feb. 19 meeting.

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