The Central Bank has fined KBC Bank Ireland for £ ##500 m for violations of the Code of Practice on Lending to Related Parties transactions between 26 September 2015 to 31 February 2016 . During the period , the bank oversaw the implementation of inadequate policies and processes on 18 occasions , including during the identification , approval , approval and granting of loans for related transactions .
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.