Vast slew of public settlements now due

The Central Bank could ramp up enforcement cases before the end of the year

16th October, 2016

Last Monday, KBC Bank Ireland was fined €1.4 million and reprimanded for breaches of the code of practice on lending to related parties 2010, and the code of practice on lending to related parties 2013 over a period of almost three-and-a-half years by the Central Bank.

This is the first enforcement action brought by the Central Bank against a credit institution for breaches of the code. The breaches were admitted by KBC.

The KBC group operates globally...

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