TO: Investment Community
FROM : Garanti Bank / Investor Relations
SUBJECT: Announcement regarding former public disclosures that are not yet resolved
DATE: October 10, 2016
With the public disclosures dated 12.08.2015, 12.10.2015, 11.12.2015, 11.02.2016, 11.04.2016, 10.06.2016 and 10.08.2016
It was announced that as a result of the audit report issued by the Ministry of Labor and Social Security Labor Inspection Board, Turkish Employment Agency Istanbul Provincial Directorate of Labor and Employment has imposed an administrative fine against our Bank, our Bank has made the payment and filed a lawsuit for the cancellation of such administrative fine.
With the public disclosures dated 14.08.2015, 12.10.2015, 11.12.2015, 11.02.2016, 11.04.2016, 10.06.2016 and 10.08.2016
It was announced that our Bank has been included as a party to an investigation pending before the authorized department of the Court of Appeals of Paris, bank accounts established by two foreign individuals at our Bank as well as certain other international institutions and the transactions relating to the same accounts are being investigated within this regard, our Bank is of the view that it has complied with all applicable rules and regulations and will be filing the necessary defenses and responses relating to the same.
There have been no new developments regarding the abovementioned lawsuits and further developments will be disclosed to the public.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
Contact Garanti Bank Investor Relations:
Tel: +90 212 318 2352
Fax: +90 212 216 5902
E-mail: [email protected]
This information is provided by RNS