Central Bank issues fines to two banks and two MFOs following April inspections

According to the regulator's press service, these sessions focused heavily on compliance, licensing, and the rigorous oversight of management structures within the financial sector.

Out of the topics reviewed, 21 were related to registration and permitting procedures. These included four amendments to the charters of credit organizations, one approval for an equity stake in a bank’s authorized capital, and the issuance of a qualification certificate for a specialized banking auditor. A significant portion of the committee’s time was dedicated to human resources and governance, with 15 agenda items focusing on the evaluation of candidates for supervisory boards, executive boards, and other key personnel at commercial banks.

Nearly a third of the discussions were centered on the actual financial standing of credit institutions. The committee scrutinized how banks and non-bank lenders followed previous Central Bank directives and met mandatory prudential requirements. These reviews were largely informed by the findings of recent inspections and field audits.

Following these assessments, the regulator applied fines to two banks and two microfinance organizations (MFOs) for violating legislative requirements and failing to address deficiencies uncovered during inspections.

This latest round of enforcement represents a more targeted approach compared to the previous month. In March, the Central Bank took much broader action, issuing fines to 20 banks and 168 other financial entities. Additionally, 17 credit institutions were given formal warnings in March regarding potential sanctions if they failed to bring their operations in line with prudential standards.