Turkiye Garanti Bankasi : Announcement regarding former public disclosures that are not yet resolved
June 13, 2018 at 07:33 am EDT
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Announcement regarding former public disclosures that are not yet resolved
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, 03.04.2018, 13.04.2018.
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.
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Turkiye Garanti Bankasi AS published this content on 13 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 June 2018 11:32:04 UTC
Turkiye Garanti Bankasi AS is a Turkey-based banking institution. It operates under the following business segments: Retail Banking, Corporate/Commercial Banking and Investment Banking. The banking products served to customers are: custody services, time and demand deposits, accumulating deposit accounts, repos, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans, automobile and housing loans, working capital loans, discounted bills, gold loans, foreign currency loans, Eximbank loans, pre-export loans, Export Credit Agency (ECA) covered financing, letters of guarantee, letters of credit, export factoring, acceptance credits, draft facilities, forfeiting, leasing, insurance, forward, futures, salary payments, investment account (ELMA), cheques, safety boxes, bill payments, tax collections and payment orders. The Bank provides service packages to its corporate, commercial and retail customers including deposit, loans, leasing and factoring, among others.
TURKIYE GARANTI BANKASI 
