Turkish banks under competition probe

Bank officials today questioned by Turkish authorities for suspected violation of anti-competition law, as Turkish banking sector's credit volume increased 0.39 percent

Turkish banks under competition probe

World Bulletin/News Desk

Turkey's competition watchdog interrogated Monday officials from twelve lenders for alleged practices between 2007 and 2011 which it said might have breached the country's anti-competition laws.

The competition authority launched the probe in November 2011 after finding out "tangible evidence" that the twelve banks had agreed to jointly set maximum deposit rates and credit card fees and charges as well as increase loan rates.

The banks under investigation are Akbank, Denizbank, Finansbank, Garanti Bankasi, Halkbankasi, HSBC, ING Bank, Is Bankası, TEB, Vakifbank, Yapi Kredi Bankasi ve Ziraat Bankasi.

Meanwhile, banking sector's credit volume increased 0.39 billion Turkish liras (TL) in a week to 817.755billion TL as of February 15, the sector's regulatory authority said on Monday.

On February 8, the credit volume was 814.599 billion TL, said the Banking Regulation and Supervision Agency of Turkey (BDDK).
According to the weekly bulletin of the BDDK, overall credits excluding the financial sector totaled 744.959 billion TL.
Consumer loans increased 0.43 percent in a week and reached 199.514 billion TL in a week.

Last Mod: 25 Şubat 2013, 13:56
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