Sunday , June 20 2021

Itaú Corpbanca fined US $ 6 billion for violation of the Banking Law



O Superintendency of Banks and Financial Institutions (SBIF) reported that resolution of January 4 last imposed a Itaú Corpbanca one a fine of almost US $ 6,000 million per violation of the credit limits established in the General Banking Law and SBIF standards.

He explained that this measure ends the sanctioning procedure that was initiated by the Superintendency in June 2017 and that was developed in response to the decision of the courts that accepted the appeal filed by the bank against the communication by which the sanctions were imposed in 2015.

In particular, and as reported by Itaú Corpbanca through an essential fact of this date, it was decided to pay a fine of US $ 5,985,328,978 for having breached the credit limit previously referred to the same debtor due to the granting of credits during the year 2013, which was subject to the formulation of charges in the administrative procedure initiated by the superintendency.

Additionally, in relation to the other charges filed in the sanctioning procedure, the exception of the limitation period imposed by Itaú Corpbanca on the operation carried out in 2011 was accepted.

With regard to the 2015 operation, it was decided to accept the Bank's defense, given the existence of guarantees granted for this credit.

The administrative and judicial measures established for this purpose stem from this resolution.


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