TITLE: Bank of Italy Issues Administrative Fine to Banca Popolare Pugliese
BODY:
On February 3, 2026, the Bank of Italy (Banca d'Italia) issued an administrative monetary penalty of €100,000 against Banca Popolare Pugliese – Società cooperativa per azioni (Banca Popolare Pugliese) for organisational and control deficiencies identified during inspections conducted between September 2, 2024 and December 13, 2024.
The Bank of Italy determined that Banca Popolare Pugliese failed to maintain adequate organisation and controls with particular reference to credit risk, in violation of Article 53(1)(b) and (d) of Legislative Decree 385/1993 (the Consolidated Banking Law), Part I, Title IV, Chapters 1 and 3, and Annex A of Circular 285/13, as well as Article 144(a) of Legislative Decree 385/1993. The irregularities were formally contested to the bank's legal representative in accordance with Article 145 of the Consolidated Banking Law. The Bank of Italy's Institutional Relations and Supervision Service proposed the administrative sanction to the Bank of Italy's Board of Directors (Direttorio), following the separation of investigative and decision-making functions established under Article 24 of Law 262/2005. Banca Popolare Pugliese submitted observations during the proceedings, which the Bank of Italy determined were insufficient to overcome the proposed sanction. The Board of Directors approved the penalty, taking into account the scope of the violations and corrective actions undertaken by the bank.
The administrative fine is effective immediately and must be paid in accordance with the Bank of Italy's procedures.
REFERENCES:
Bank of Italy Provvedimenti sanzionatori (Disciplinary Measures) – February 3, 2026