21/10/2026
Finantsinspektsioon issued a precept to Coop Pank AS requiring the bank to remedy deficiencies that were identified during an on-site inspection in its governance and internal control systems, ICT and credit risk management, reporting, and responsible lending.
The precept requires Coop Pank AS to ensure the continuous and effective functioning of internal control systems and the sufficiency of resources, and to mitigate concentration risk. The bank also needs to remedy deficiencies in its ICT and credit risk management, and bring its ICT risk management measures into line with the European Union’s Digital Operational Resilience Act (DORA) and the requirements of its Regulatory Technical Standards, ensure its prudential ratios are calculated in the required manner, and eliminate shortcomings in the procedural rules for assessing credit capacity and make sure they are applied.
Finantsinspektsioon carried out an on-site inspection at Coop Pank AS that assessed the organisation of governance, the compliance control function, and the management and control of the risk management and internal audit function. The inspection also looked at the management and control of operational risk, ICT risk, credit risk, and interest and market risk, the correctness of reporting, and responsible lending.