- ECB imposes periodic penalty payments amounting to €187,650 on ABANCA for failure to comply with ECB decision on climate-related and environmental risks
- ABANCA did not sufficiently assess and document materiality of its climate-related and environmental risks before deadline
The European Central Bank (ECB) imposed periodic penalty payments amounting to €187,650 on Spanish bank ABANCA Corporación Bancaria, S.A. owing to non-compliance to conduct a materiality assessment of its climate-related and environmental (C&E) risks. ABANCA failed to meet this requirement for 65 full days in 2024. Periodic penalty payments accrue per day of infringement.