Turkish Banks Fined In Antitrust Case
Turkey’s financial watchdog has fined 12 banks a combined amount of 1.1 Turkish billion liras for restricting competition. The banks under investigation were Akbank, Denizbank, Finansbank, Garanti Bankasi, Halkbankasi, HSBC, ING Bank, Is Bankası, TEB, Vakifbank, Yapi Kredi Bankasi, Ziraat Bankasi. The banks broke the country’s antitrust laws when they jointly agreed to set maximum deposit rates, credit card fees and charges.
