Announcement due to the Communiqué on Material Events Disclosure article 23 clause 7
Announcement due to the Communiqué on Material Events Disclosure article 23 clause 7
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, 13.06.2018.
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.
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. Ministry of Trade has appealed the annulment decision of the İstanbul District Administrative Court ,at the 15th Chambers of the Counsel of state. If there will be a new development, further disclosures will be made.