Economy and Business > sanction
The sanction was applied by the Superintendence of Financial Services
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June 12, 2023 at 17:08
He The Central Bank (BCU) applied a fine to Banco Santander of more than US$ 45,000. He did it through Superintendency of Financial Services due to excess in the limit of credit risks with related parties. The fine applied was for $1,757,739.08 (US$45,419.61, at the current exchange rate), and was resolved in January.
The institution regularized the detected situation and paid the fine.
Diego Battiste
Banco Santander fined by the BCU
consulted by The Observer, the BCU through the Communication Area responded that “The regulations applicable to banks limit the credit risks that can be assumed by each natural or legal person (limit set based on their assets)”.
He reported that in January 2023 circular 2,397 came into force, which involved regulatory changes to that regulation.
He added that as a consequence of these changes, the “bank was exceeded in its position with related parties for three days”.
The BCU explained that Banco Santander regularized the situation by canceling the operations and paying the corresponding fine.
The figure far exceeds the usual fines. The closest this year is to Puente Corredor de Bolsa for 200.00 UI ($1,164,680), while the rest is around 200,000 pesos.
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