Source - RNS
RNS Number : 8825K
Turkiye Garanti Bankasi
13 April 2018

TO: Investment Community

FROM : Garanti Bank / Investor Relations

SUBJECT: Regarding the Administrative Fine Imposed on Our Bank

DATE: April 13, 2018

Reference: Public disclosures of Türkiye Garanti Bankası A.Ş. (Garanti ) dated 18.08.2015, 30.09.2015, 30.11.2015, 29.01.2016, 29.03.2016, 30.05.2016, 02.08.2016, 03.10.2016, 02.12.2016, 02.02.2017, 03.04.2017, 02.06.2017, 03.08.2017, 03.10.2017, 04.12.2017, 05.02.2018 and 03.04.2018.


With the public disclosures referenced above, it was announced that the Ministry of Customs and Trade has imposed an administrative fine of TRY 110,110,000 on our Bank, our Bank has paid a discounted amount of TRY 82,582,500 of the fine in accordance with the relevant legislation, and filed an annulment action against the decision of the Ministry regarding such fine in due time.


The relevant legal process has been completed and İstanbul Regional Court 8th Administrative Chamber has cancelled the fine. This decision can be appealed at the Council of State. If there will  be a new development, further disclosures will be made.


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.


Yours sincerely,


Garanti Bank

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
The company news service from the London Stock Exchange