Turkiye Garanti Bankasi A.S. (TGBD)
Turkiye Garanti Bankasi A.S.: Regarding the Administrative Fine Imposed to
Our Bank by Ministry of Trade
24-May-2019 / 17:30 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
TO: Investment Community
FROM: Garanti Bank / Investor Relations
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SUBJECT: Regarding the Administrative Fine Imposed to Our Bank by Ministry
of Trade
DATE: May 24, 2019
Reference: Public disclosures of Türkiye Garanti Bankasi A.S. (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, 13.06.2018, 14.08.2018, 17.10.2018.
With the public disclosures referenced above, it was announced that the
Ministry of 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,
Istanbul Regional Court 8th Administrative Chamber has cancelled the fine,
the Ministry of Trade has appealed such annulment decision before the
Counsel of State.
The Council of State has rejected the relevant Ministry's appeal and
approved the Regional Administrative Court's decision regarding the
annulment of the administrative fine; thus the relevant legal process has
come to an end in favour of our Bank. Accordingly, our Bank has filed
necessary applications in order to refund the amount paid.
*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
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Fax: +90 212 216 5902
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E-mail: investorrelations@garanti.com.tr
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www.garantiinvestorrelations.com [1]
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ISIN: US9001487019
Category Code: MSCL
TIDM: TGBD
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 8804
EQS News ID: 815787
End of Announcement EQS News Service
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(END) Dow Jones Newswires
May 24, 2019 12:31 ET (16:31 GMT)
