Central Bank fines 20 banks, warns 17 over compliance lapses

It said 17 of the items related to registration and licensing, including amendments to credit institutions’ charters, approvals for share acquisitions in charter capital, issuance of audit qualification certificates, and the consideration of candidates for supervisory and management board positions, as well as key staff in commercial banks.

The committee also examined 12 issues concerning the financial condition of credit institutions, including compliance with central bank instructions and prudential standards, findings from inspections of banking and non-banking credit institutions, and testing of financial services under a regulatory “sandbox” framework.

The regulator warned 17 banks of possible measures and sanctions for failing to comply with prudential requirements and for not bringing their operations into line with legal requirements.

It also fined 20 banks, 89 microfinance organizations, and 79 pawnshops for non-compliance with legal requirements and deficiencies identified during inspections.