Turkey's Competition Board (RK) announced its decision Monday to investigate 12 banks that have been accused of making agreements that limit the competition between them Todayszaman reported
According to the announcement, the board had made the decision to investigate a meeting that was held on Nov. 2. The investigation will include Akbank, Deniz Bank, Finans Bank, HSBC, ING Bank, Türk Ekonomi Bank, Garanti Bank, Halk Bank, İş Bank, Vakıf Bank, Yapı ve Kredi Bank, Ziraat Bank as well as Garanti Payments Systems and Garanti Housing Financing.
The aim of the investigation is to determine if the banks made agreements that limit competition, coordinated activities or conducted any other activity that is against Law No. 4054 concerning the protection of competition.
Last year, the competition board issued a fine of $ 72.3 million to 7 banks for agreeing on promotions to attract individual wage deposits.