The Board of the Bank of Lithuania has imposed a small fine on AB DNB Bankas for its charging of high fees for some cross-border transfers and for the crediting of the funds of such transfers in breach of European Union regulations.

The regulator obliged AB DNB Bankas to reduce the fees and indemnify the losses to customers, which it says it has now done. The regulator had found that in some cases (when the transfers did not meet Single Euro Payments Area requirements) the Bank applied a €8.69 fee for the crediting of the funds of such transfers, i.e. almost 25 times more than for the crediting of domestic transfers in euro (35 cents).