The Central Bank has fined KBC Bank more than €18 million over serious failures which had a devastating impact on some of its tracker mortgage customers.
KBC has admitted to12 regulatory breaches which affected 3,741 customers’ accounts from 2009 to October 2019.
The Central Bank said the €18,314,000 fine was at the “highest end of its sanctioning powers” which reflected “the gravity with which the Central Bank views KBC’s failures”.
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