Romania’s central bank sanctions Patria Bank for the second time this year for inappropriate financial reporting

The National Bank of Romania (BNR) has sanctioned for the second time this year Patria Bank, controlled by EEAF Financial Services BV, with written warning for inappropriate reporting of fist quarter financial data, BNR data show.

In July, Patria Bank was already sanctioned by the central bank with written warning for malfunction of core-banking software ab-Solut.

The second sanction for Patria Bank was issued on September 27 mainly for “the inappropriate preparation of a report for March 2018, both at individual level and at consolidated level.”

BNR inspectors have also found other 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.