Central Bank imposed fines on three banks, issued warnings to six more banks

Based on the results of inspections by the Banking Supervision Committee, the Central Bank fined and issued warnings to several banks.

Reportedly, the Committee has considered the following issues:

• registration of changes in the charters of credit institutions;
• permission to own shares in the authorized capital of credit organizations;
• licensing of credit organizations;
• activities of microfinance organizations;
• inclusion in the register of implementing organizations and registration of accounts;
• consideration of candidates for members of the supervisory board and management of commercial banks.

In terms of the financial condition of credit institutions, the fulfillment by banks and payment organizations of the requirements of the Central Bank’s instructions and prudential standards was examined, and the results of studies conducted in banks and microfinance organizations were discussed.

Based on the results of the study, the Central Bank applied penalties to three banks for failure to comply with the requirements of current legislation and regulatory legal documents. Six banks and one mortgage refinancing company were issued warnings about the application of measures and sanctions. The names of the organizations have not been disclosed.