Competition Authority Fined 12 Turkish Banks for Anti-Trust
Turkey's competition watchdog has fined 12 Turkish banks a
combined 1.1 billion Turkish liras for restricting competition
through collusion on rates. The board‟s investigation into
complaints they received regarding alleged misbehavior concluded
that all 12 banks investigated had adopted anti-competitive
policies regarding loan and return-on-assets rates as well as
credit card services and imposed fines up to 1.5 percent of total
revenue. According to the Competition Board the 12 banks breached
the country's antitrust law through their practices between
2007 and 2011 when they agreed to jointly set maximum deposit
rates, credit card fees and charges as well as rise in loan rates.
The banks under investigation were Akbank, Denizbank, Fi-nansbank,
Garanti Bankasi, Halkbankasi, HSBC, ING Bank, Is Bankası, TEB,
Vakifbank, Yapi Kredi Bankasi ve Ziraat Bankasi.
The competition watchdog fined Akbank 172.1 million TL, Garanti
Bankasi and its two affiliates 213.3 million TL, Yapi Kredi Bankasi
149.9 million TL, Turkiye Is Bankasi 146.6 millon TL, Finansbank 54
million TL, Halkbankasi 89.6 million TL, Vakiflar Bankasi 82.1
million TL, Ziraat Bankasi 148.2 million TL, Denizbank 23 million
TL, HSBC Bank 14.8 million TL, ING Bank 12 mil-lion TL, and Turk
Ekonomi Bankasi 10.6 million TL.
Başkent Doğalgaz Dağıtım A.Ş.
Within the framework of the privatization of all of the shares
of Başkent Doğalgaz Dağıtım A.Ş. via
block sales, it was decided that there were no drawbacks to the
acquisition of the relevant shares by any of the following bidders:
- Torunlar Sanayi ve Ticaret A.Ş., or - Akfen Holding
A.Ş. STFA Yatırım Holding A.Ş. Joint
Venture Group, or - Fernas İnşaat A.Ş., or -
Türkerler İnşaat Tur. Mad. Ener. Üretim Tic. ve
San. A.Ş. Gama Holding A.Ş. Joint Venture
Competition Authority Concluded 189 Investigations in 15
As known, the main purpose of the Act no 4054 on the Protection
of Competition is the prohibition of restrictions of competition
which may arise as a result of agreements between undertakings,
concerted practices and decisions of associations of undertakings.
In order to guarantee and protect competition in the markets,
Competition Authority, which was established in order to supervise
the enforcement of the Act no 4054 and to carry out the duties
specified by the said Act, has concluded and taken final decisions
concerning a total of 189 investigation files
during the 15 years since its foundation through
its decision-making body Competition Board.
Originally published March 2013
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