The former president of China's seventh-largest lender in terms of total assets has just been indicted over bribery charges by the Supreme People's Procuratorate (SPP). The charges were brought on by the country's highest national investigative body on Wednesday against Sun Deshun, who had served as the chairman and president of China CITIC Bank Corporation Limited.

Deshun was accused by the SPP of taking advantage of his high position within the nationally comprehensive and internationally oriented commercial bank to unjustly enrich himself and others. He allegedly accepted large sums of money and gifts in return for doing favors for companies and individuals seeking to make profits.

The investigation into Deshun's practices was conducted by the National Supervisory Commission. After the probe was concluded the SPP forwarded the case over to People's Procuratorate of Jinan in east China's Shandong Province. The case against the former banker is now being reviewed pending prosecution.

Deshun is expected to stand trial in the Intermediate People's Court of Jinan following the review process. He had reportedly already been informed by prosecutors of his litigation rights prior to being interrogated for his crimes. Prosecutors have also already met with Deshun's defense counsel to discuss his case.  

Apart from the case against its former president, China CITIC Bank is also facing a separate investigation over reports that it had leaked sensitive client information. Earlier in the month, a high-profile client of the bank had complained on social media that they had shared his transaction records to his employer without his authorization.  

The bank immediately published an apology, stating that it had punished employees that were involved in the breach, including the removal of the president of one of its branches in Shanghai. Local media reports revealed that the complainant was the popular Chinese stand-up comedian Wang Yuechi.  

In March, investigators found that the bank had shared personal bank account information to a third-party without the owner's consent. Following the news of the two breaches of trust, the China Banking and Insurance Regulatory Commission (CBIRC) announced that it had launched its own investigation into the matter.

If it is found guilty, the bank could be charged with breaching the country's commercial banking laws and other relevant regulations. Over the weekend, the CBIRC stated that the bank's alleged actions are a failure of its duty to depositors and a violation of the interests of its customers. The agency added that it will be initiating an investigation and other necessary actions in accordance with relevant laws and regulations.