Topic Measures Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank): BaFin imposes administrative fine
On 25 June 2015, the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) imposed a fine of EUR 7,500 on Vietnam Joint Commercial Bank for Industry and Trade (VietinBank). The institution did not comply with the large exposure limit set out under Article 395(1) of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR).
The basis for BaFin's decision on the fine is section 56 (5) of the Banking Act (Kreditwesengesetz – KWG).
The administrative order imposing the fine became final on 14 July 2015.