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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