The Volksbank, parent company of SNS, ASN and RegioBank, faces a second fine for poor risk management, the state-owned financial services company confirmed at the presentation of its quarterly results on Friday.

A year ago, Volksbank admitted the Dutch central bank had concluded it was not doing enough to prevent money laundering and the financing of terrorism, or check its clients’ backgrounds.

Now a second find is pending. “The central bank notified us in the first half of 2024 that, following the outcome of a supervisory review conducted at the request of the European central bank… it also intends to impose an administrative fine for alleged risk management-related shortcomings in previous years.”

As yet it is unclear how big the fines are likely to be. “The final outcome of both administrative fines procedures is as yet unclear and the financial impact, which may be significant, cannot be estimated reliably at present,” the bank said.

ING reached a €775 million out of court settlement with the public prosecution department for its money laundering failings, while ABN Amro was fined €480 million. Rabobank is also still under investigation.

Volksbank said it had booked net profit 7% lower at €231 million in the first half of this year, while total income was down 10% to €661 million. This was driven by a 15% decrease in net interest income, the bank said.