Topic Measures Oyak Anker Bank GmbH: BaFin imposes lending prohibition

Date: 12.03.2018

On 2 January 2018, BaFin issued an order to Oyak Anker Bank GmbH prohibiting the institution from granting large loans pursuant to section 45b (1) sentence 1 no. 3 of the German Banking Act (Kreditwesengesetz – KWG). The prohibition became effective on 9 January 2018.

The institution contravened the requirements of the dual control principle and thereby the requirements for proper business organisation within the meaning of section 25a (1) of the KWG.

The notice became final and conclusive on 9 February 2018.

Did you find this article helpful?

We appreciate your feedback

* Mandatory field