Central Bank imposes fines on 11 commercial banks

During the sessions, the Committee reviewed a total of 43 matters. Of these, 30 issues pertained to registration and licensing. These included registering amendments to the charters of credit organizations, granting permission for equity ownership in one institution, and issuing auditor qualification certificates for six banks. Additionally, the Committee oversaw the registration of five microfinance organizations, the re-licensing of one payment organization, and the vetting of candidates for supervisory boards and executive management positions across 14 commercial banks.

The regulator also focused heavily on the financial health and operational integrity of the sector, addressing 13 specific issues related to the financial standing of credit organizations. These discussions covered a broad range of topics, including adherence to prudential norms and Central Bank directives, the findings of recent on-site inspections, and the protection of consumer rights. Furthermore, the Committee reviewed cybersecurity compliance within banks and payment organizations, as well as the testing of financial services under the "regulatory sandbox" framework.

In addition to the fines imposed on 11 banks, the Central Bank issued formal warnings to 14 banks and four payment organizations. These warnings were triggered by non-compliance with prudential regulations and a failure to align operations with legislative acts within the required timeframes.

In a move to bolster financial resilience, the Central Bank also issued mandates to eight banks prohibiting the distribution of profits through dividends on common shares. This measure is intended to mitigate the potential impact of future losses on financial stability and to ensure the adequate formation of macroprudential buffers.