Fines totalling in excess of €5m were dished out by the Central Bank to financial services firms last year.

The Minister for Finance Michael Noonan has confirmed that the Central Bank has imposed fines totalling €575,640 to date this year in relation to administrative sanctions procedure cases.

The Central Bank has fined UniCredit Bank Ireland €315,000 for breaching limits on exposure to Italian and Spanish bonds and contravening limits on exposure to a single client.