Bank of Beijing director investigated for "disciplinary violations"

[SHANGHAI] Bank of Beijing Co Ltd board director Lu Haijun is under investigation for serious disciplinary violations, the bank said, the latest high-ranking banker to come under scrutiny as China's anti-corruption drive turns to the finance sector.

The investigation comes after China Minsheng Banking Corp's president, Mao Xiaofeng, resigned on Saturday for personal reasons after media reports that he was being investigated by China's anti-corruption watchdog.

Bank of Beijing's Lu was the former chairman of Beijing Energy Investment Holding Co Ltd, one of the bank's shareholders, according to the statement posted on the Shanghai stock exchange late on Monday.

The bank is operating normally, the statement added, without detailing which authority is investigating Lu.

The bank has a market value of 106 billion yuan (S$22.9 billion) and operates primarily in the domestic market.

Beijing Energy Investment Holding Co Ltd holds 5.08 per cent of the bank's shares.

REUTERS