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Turkey´s Competition Board has decided to launch an investigation into 12 Turkish banks, including major lenders, to probe whether they acted together on setting deposit and loan rates, government officials stated on Monday.
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The Board has begun sending notifications to related banks and the Banking Regulation and Supervision Agency (BRSA) on the launch of the investigation, which will study whether the banks have breached competition law.
Previously, the Competition Board fined seven banks - Akbank , Garanti Bank, Isbank, Vakifbank, Yapi Kredi, Denizbank and Finansbank - a total 72.3 million lira ($40 million) in March for violating competition regulations.
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Source : english.sabah.com.tr
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