Bank of Spain sanctions CBNK and four directors over remuneration

The Bank of Spain has made public the final sanctions imposed on CBNK Banco de Colectivos, SA and four of its directors for serious infringements related to remuneration policies. The resolution was adopted on March 3, 2026, by the Governing Council of the Bank of Spain and is published in the Official State Gazette (Boletín Oficial del Estado) on October 15, 2026 (no. 256, Sec. III, p. 138409), with the official reference BOE-A-2026-21520. The total amount of the fines sums to 369,600 euros.

A case closed after nearly a year of processing

The procedure stems from case reference IE/BP-2/2025, initiated on April 7, 2025, against the entity and some of its management officials. The sanctioning resolution, issued on March 3, 2026, has become final in the administrative process, enabling its official publication.

Article 115.5 of Law 10/2014, of June 26, on the organization, supervision, and solvency of credit institutions, establishes that sanctions for serious infringements are published in the Official State Gazette once they are final. The imputed conduct is classified under the second paragraph of Article 93.t).2 of the same law.

The entity, fined 300,000 euros

• CBNK Banco de Colectivos, SA: fine of 300,000 euros, provided for in Article 98.1.b) of Law 10/2014.

The non-compliance consisted of failing to treat 100% of the extraordinary contributions to certain savings plans for senior executives as discretionary pension benefits. The supervisor specifies that these breaches are not particularly significant in light of the importance of the specific rules infringed or the economic-financial situation of the entity.

Four directors sanctioned

The fines for the management officials are based on Article 101.1.a) of Law 10/2014:

• Enrique Serra González, director: 30,000 euros.
• Ana Villacañas Beades, director: 15,600 euros.
• José Polimón López, director: 13,200 euros.
• Mateo Velasco Arranz, director: 10,800 euros.

In all five cases, a 40% discount was applied for opting into the reductions provided for in Article 85 of Law 39/2015, of October 1, on the Common Administrative Procedure of Public Administrations. The resolution was signed in Madrid on October 6, 2026, by the Secretary General, Francisco-Javier Priego Pérez.

The publication closes a case affecting the leadership of a credit institution and confirms that non-compliance with remuneration policies, particularly the treatment of savings and pension plans for senior executives, is a matter subject to severe sanctions. For readers, the case illustrates the scope of the Bank of Spain’s supervision over remuneration in the financial sector and the deterrent effect of the mandatory publication of final fines in the Official State Gazette.

Source: Official State Gazette, no. 256, of October 15, 2026, Sec. III. Other provisions, page 138409 (official reference: BOE-A-2026-21520).