In total seven banks missed the April 1 deadline - in some cases not for the first time - and received either a warning (with no financial penalty) and in other cases a fine. However, in all cases the fines are fairly small, with the largest being less than 14,000 euros.
Pēters Putniņš, the under-pressure chairman of the Financial and Capital Market Commission (FKTK) said the watchdog had taken into account that the situation for banks this year was "much more complicated" than previously because of anti-money laundering demands and the refusal of some auditing firms to cooperate with banks.
The list of penalties for failing to file accounts on time was as follows:
Rietumu Bank - warning, no financial penalty
Signet Bank - warning, no financial penalty
BlueOrange Bank - fined 4,260 euros
LPB Bank - fined 4,260 euros
Baltic International Bank - fined 4,793 euros
PrivatBank - fined 9,585 euros
Meridian Trade Bank - fined 13,490 euros. (As recently as October 16, 2018, a fine of 14,200 euros was applied for not submitting and not publishing an audited annual report for 2017).
Therefore in total the seven banks flouting the rules were fined a total of 36,388 euros.