Santander Bank Polska fined. The Polish Financial Supervision Authority lists the bank's offenses

The Polish Financial Supervision Authority imposed fines on Santander Bank Polska in the total amount of PLN 21.1 million, the Polish Financial Supervision Authority announced in a statement.

The Commission's decision is not final.

The bank informed PAP that it is currently analyzing in detail the content of the justification for the Polish Financial Supervision Authority's decision.

“Nevertheless, taking into account that the decision is immediately enforceable, the Bank will immediately fulfill its obligation to pay the financial penalty,” Santander BP said in a statement.

The KNF penalties concern eight cases. The bank received the highest penalty (in the amount of PLN 7 million) in connection with the execution of orders on the client's account, the subject of which is the “Interest Rate Not Higher Than” in the period from January 1, 2021 to April 28, 2023.

The bank also received, among others: a fine of PLN 4 million in connection with cooperation with unauthorized third parties in the period from October 22, 2018 to February 26, 2021 and a penalty of PLN 1 million in connection with concluding transactions hedging currency risk in the period from October 25, 2018 to November 28, 2019. (PAP Business)

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