Romania’s central bank sanctions Patria Bank for software malfunction

The National Bank of Romania (BNR) has sanctioned Patria Bank, controlled by EEAF Financial Services BV, with written warning for malfunction of core-banking software ab-Solut, BNR data show.

The sanction, the second in this year, was issued on July 20, 2018, for “the inappropriate functioning of the ab-SOLUT information system to keep the value of the previous period for the required level of minimum reserve requirements on RON”.

BNR inspectors have also found several problems that should be solved by Patria Bank’s managers.

In April, Romania’s central bank has sanctioned with written warning a manager of BRD – Groupe Societe Generale, Romania’s third largest bank in terms of assets, for failure to comply with a central bank’s measure,

Last year, Romania’s central bank sanctioned with fines and written warnings seven banks – Bancpost, Patria Bank, Credit Europe Bank, ProCredit Bank, Garanti Bank, Libra Internet Bank and Banca Feroviara.