The Bank of Spain last year imposed penalties for 94 serious violations and severe directors and managers of financial institutions, 42% from a year earlier, according to data contained in the Report on Banking Supervision, 2011 published today.
According to the document, the supervisor decided a total of 61 applications in 2011, which led to 105 sanctions, of which 94 were for managers and administrators and the remaining eleven to the institutions themselves.
Of the 94 penalties imposed on directors and officers, 66 were for serious offenses and 28 for serious offenses.
The document explains that last year the sanctioning activity of the Bank of Spain was in line with previous years regarding the content of the cases investigated and resolved.
In addition to the 70 very serious penalties, the agency imposed last year 3 sanctions severe and 4 mild to entities as well as 28 of a serious nature to managers and executives.
The Report on Banking Supervision includes the 336 credit institutions subject to supervision by the Bank of Spain, three fewer than in the previous year.
In a note, the agency clarified that this figure includes 29 boxes of savings, while maintaining the condition of credit institutions in 2011 ceased to exercise direct financial activity, as having transferred to banks within the overall restructuring of the financial sector .