Banco de España fines Cajamar parent entity 2.8 million euros for remuneration reporting errors

The Banco de España has imposed a 2.77 million euro fine on Banco de Crédito Social Cooperativo, the parent company of Cajamar, for irregularities in the calculation of variable remuneration. The penalty targets both the institution and its leadership, marking a significant regulatory enforcement action regarding internal governance and financial reporting standards.