REG-Turkiye Garanti Bankasi A.S. Turkiye Garanti Bankasi A.S.: About the annulment action filed against the Turkish Competition Board

Turkiye Garanti Bankasi ASAnnouncement

09/06/2022 14:45

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   Turkiye Garanti Bankasi A.S. (TGBD)
   Turkiye Garanti Bankasi A.S.: About the annulment action filed against the
   Turkish Competition Board

   09-Jun-2022 / 14:43 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   TO: Investment Community

         FROM : Garanti BBVA / Investor Relations

   SUBJECT: About the annulment action filed against the Turkish Competition
   Board

    

    

   DATE: June 08, 2022

    

   Ref: Our Bank’s public disclosure dated 18.06.2019, 15.10.2021.

    

   In our Bank’s public  disclosures mentioned above,  we disclosed that  the
   annulment action filed by our Bank before the 2nd Administration Court  of
   Ankara regarding Turkish Competition Board's decision dated March 8,  2013
   and no. 13-13/198-100   on imposing administrative  fine against our  Bank
   has been rejected, our Bank has  appealed such decision of rejection,  the
   appeal has been rejected by the 13th Chamber of the Council of State,  our
   Bank has requested the revision of such decision which was accepted by the
   Council of  State,  however,  the  court of  first  instance  decided  for
   insistence; such  decision of  insistence has  also been  appealed by  the
   Bank, The Council of State, Plenary Session of Administrative Law Chambers
   decided that the decision of insistence of the court of first instance  to
   be dismissed in favour of our Bank and the file to be sent to the court of
   first instance to be re-decided.

    

   2nd Administration  Court  of Ankara  decided  to cancel  the  Competition
   Board's decision  dated  08.03.2013  and  no.  13-13/198-100,  subject  to
   appeal. The legal process is still ongoing and the necessary acts will  be
   conducted by our Bank for the refund of the relevant administrative fine.

    

    

   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 BBVA

   Contact Garanti BBVA Investor Relations:

   Tel: +90 212 318 2352

         Fax: +90 212 216 5902

         E-mail:  1 investorrelations@garantibbva.com.tr

          2 www.garantibbvainvestorrelations.com

    

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   ISIN:          US9001487019
   Category Code: MSCL
   TIDM:          TGBD
   LEI Code:      5493002XSS7K7RHN1V37
   Sequence No.:  167330
   EQS News ID:   1372365


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:investorrelations@garantibbva.com.tr
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=19979b7bae6aeeb49d76141fbe11774c&application_id=1372365&site_id=refinitiv&application_name=news


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