Banking Supervision

Sanctions imposed by the Banco de España

Under the provisions of Art. 115.7 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, the Banco de España shall publish on its website the sanctions and reprimands imposed in relation to serious and very serious infringements within 15 working days from the date on which such sanctions and reprimands have become final pursuant to administrative proceedings. Where appropriate, and if it is so resolved, the identity of the person subject to the sanction or reprimand may remain confidential.

In compliance with this obligation, the following table includes a reference to the aforementioned sanctions and reprimands imposed by the Banco de España since the entry into force of Law 10/2014, referring to the appeals for judicial review, if any, lodged against the sanctioning resolution, and the outcome thereof.

Decision date Information on infringements and sanctions imposed Status
21-12-18

At its meeting on 21 December 2018, the Governing Council of the Banco de España agreed to impose on ABANCA CORPORACIÓN BANCARIA, S.A. a fine of three million euro (€3,000,000), after application of the reductions of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure. The fine is for the commission of a serious infringement, consisting in the performance, from 1 January 2015 to 30 September 2016, of actions or operations in breach of Ministerial Order 2899/2011 and Banco de España Circular 5/2012. (Article 93(f) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

In the proceedings, proof was evidenced of several breaches relating to pre-contractual information provided to the customer in respect of costs and charges of the operation and the inclusion of these costs and charges in the calculation of the annual percentage rate (APR).

Final decision