Turkiye Garanti Bankasi A.S.: Lawsuit abroad to which the Bank is a party
Turkiye Garanti Bankasi A.S. (TGBD)
Turkiye Garanti Bankasi A.S.: Lawsuit abroad to which the Bank is a party
24-Dec-2021 / 07:47 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
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TO: Investment Community
FROM : Garanti BBVA / Investor Relations
SUBJECT: Lawsuit abroad to which the Bank is a party
DATE: December 24, 2021
With the public disclosures dated 14.08.2015, 12.10.2015, 11.12.2015, 11.02.2016, 11.04.2016, 10.06.2016, 10.08.2016, 10.10.2016, 12.12.2016, 13.02.2017, 13.04.2017, 14.06.2017, 14.08.2017, 20.09.2017, 20.11.2017, 22.01.2018, 20.03.2018, 21.05.2018, 19.07.2018, 20.09.2018, 16.09.2019.
With the public disclosures referenced above, it was announced that; the Grande Tribunal of Paris responsible for financial institutions rendered its decision in a litigation matter where our Bank is listed as one of the defendants, as a result, a judicial fine together with the indemnification of public loss were imposed upon our Bank, our Bank filed an appeal against such decision, the Appeal Court approved the decision of the Grande Tribunal of Paris and our Bank filed an appeal against the decision of the Appeal Court to the High Court in France.
The High Court rejected our appeal and our Bank will pay the remaining portion of the monetary penalty of Euro 8 million. Such amount is fully provisioned and payment of this fine will not have any negative impact on the financials of the Bank.
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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: investorrelations@garantibbva.com.tr
www.garantibbvainvestorrelations.com
ISIN: US9001487019 Category Code: MSCL TIDM: TGBD LEI Code: 5493002XSS7K7RHN1V37 Sequence No.: 132342 EQS News ID: 1261960
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