FRANKFURT (Reuters) -The European Central Bank fined Spanish lender ABANCA Corporación Bancaria for failing to comply with its decision on climate-related and environmental risks, it said on Monday.

ECB supervisors have been increasingly intrusive in probing banks’ exposure to climate risk, first giving lenders a list of expectations, then binding decisions on disclosing and managing risk.

The ECB imposed a “periodic penalty” of 187,650 euros after it failed to meet the materiality assessment requirement for 65 days in 2024.

“ABANCA did not sufficiently assess and document materiality of its climate-related and environmental risks before deadline,” the ECB said.

ABANCA may challenge the ECB’s decision before the EU Court of Justice.

(Reporting by Balazs KoranyiEditing by Francesco Can

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