Major fine for Banvit due to competition violation

Banvit has announced that, following an investigation by the Competition Board into whether Article 4 of the Law on the Protection of Competition No. 4054 had been violated, the company was issued an administrative fine of 947,305,871.90 TL.

In a statement made by the company to the Public Disclosure Platform (KAP), it was noted that the reasoned decision for the fine has not yet reached them. Banvit stated that after the reasoned decision is served, they will evaluate taking advantage of the 25% early payment discount within the legal timeframe.

The statement further emphasized that developments regarding the matter will be shared with the public as necessary within the framework of Capital Markets Legislation.