The Central Bank has fined KBC Bank Ireland for £1.27m for breaches of the Code of Practice on Lending to Related Parties committed June. During the period, the bank oversaw the implementation of inadequate policies and processes on 18 occasions, including during the identification, approval, management and granting of loans for related parties.
The Central Bank has fined KBC Bank Ireland for £1.27m for breaches of the Code of Practice on Lending to Related Parties committed between 26 September 2012 to 23 February 2016. During the period, the bank oversaw the implementation of inadequate policies and processes on 18 occasions, including during the identification, approval, management and granting of loans for related parties.