The investigation carried out by the Competition Board into 8 banks based on the decisions it took on 19.08.2009 and 24.08.2009 has been finalized. The final Board decision regarding the investigation was announced today (8 March 2011) at 15:00. The decision, the grounds of which will be provided later, is provided below: 
 

Disclosure to the Parties in Accordance with Article 49 of the Act No. 4054 on the Protection of Competition, of the Final Board Decision Regarding the Investigation Carried Out Pursuant to the Competition Board Decisions Dated 19.08.2009 and Numbered 09-36/919-M and Dated 24.08.2009 and Numbered 09-37/924-M (8 March 2011)

An investigation was initiated under Article 41 of the Act No. 4054 on the Protection of Competition, pursuant to the Competition Board Decisions dated 19.08.2009 and numbered 09-36/919-M and dated 24.08.2009 and numbered 09-37/924-M against Akbank T.A.Ş., Denizbank A.Ş., Finans Bank A.Ş., Türkiye Garanti Bankası A.Ş., Türkiye Halk Bankası A.Ş., Türkiye İş Bankası A.Ş., Türkiye Vakıflar Bankası T.A.O. and Yapı ve Kredi Bankası A.Ş., which operate in the banking market, to determine whether the aforementioned Act was infringed by the above undertakings through colluding as part of a so-called “gentleman’s agreement” to not offer promotions to private firms and for the other banks to not extend offers to those institutions/firms for which the protocols are continuing; and as concerns 6 of the above banks, through colluding and predetermining the promotion amount that they would bid in the tender by Erdemir T.A.Ş. for 2005 salary payments. As a result of the investigation, upon the evaluation of the establishments, the defenses of the parties concerned, all of the information and documents collected, as well as the investigation report, the additional written opinion and the statements made during the hearings, the final decision below, numbered 243-78,  was made during the Competition Board meeting dated 07.03.2011 numbered 11-13:

It has been decided with the possibility of recourse to the Council of State;

1- with the differing ground espoused by Chairman Prof. Dr. Nurettin Kaldırımcı and UNANIMOUSLY, that, Akbank T.A.Ş., Türkiye Garanti Bankası A.Ş., Türkiye İş Bankası A.Ş., Koçbank A.Ş., Pamukbank A.Ş., Yapı ve Kredi Bankası A.Ş. and Türkiye Vakıflar Bankası T.A.O., as of 2001; Finans Bank A.Ş., as of 2004; and Denizbank A.Ş., as of 2005, infringed competition under Article 4 of the Act No. 4054, through colluding as part of a so-called “gentleman’s agreement” to not offer promotions to private firms and for the other banks to not extend offers to those institutions/firms for which the protocols are continuing; and that the claims relating to Erdemir T.A.Ş., which are included in the file, cannot be deemed as a separate act,

2- and;
a) consequently, in accordance with Article 16 paragraph three of the Act No. 4054 and the provisions of the Regulation on Fines to Apply in Cases of Agreements, Concerted Practices and Decisions Limiting Competition, and Abuse of Dominant Position,
 
by MAJORITY VOTE that;

- Akbank T.A.Ş. shall be given administrative fines amounting to:
 14,525,268.00 TL. (Fourteen million, five hundred and twenty five thousand, two hundred and sixty eight TL.)
- Türkiye Garanti Bankası A.Ş. shall be given administrative fines amounting to:
 11,641,860.00 TL. (Eleven million, six hundred forty one thousand, eight hundred and sixty TL.)
- Türkiye İş Bankası A.Ş. shall be given administrative fines amounting to:
 12,987,340.00 TL. (Twelve million, nine hundred and eighty seven thousand, three hundred and forty TL)
- Türkiye Vakıflar Bankası T.A.O. shall be given administrative fines amounting to:
 8,226,296.00 TL. (Eight million, two hundred and twenty six thousand, two hundred and ninety six TL)
- Yapı ve Kredi Bankası A.Ş. shall be given administrative fines amounting to:
 14,211,048.00 TL. (Fourteen million, two hundred and eleven thousand, forty eight TL)

- discretionally by 4 thousandth of the annual gross revenues that accrued by the end of the fiscal year 2010, which were determined by the Board;

- Denizbank A.Ş. shall be given administrative fines amounting to:
 2,881,302.00 TL. (Two million, eight hundred and eighty one thousand, three hundred and two TL)
- Finans Bank A.Ş. shall be given administrative fines amounting to:
 7,863,921.00 TL. (Seven million, eight hundred and sixty three thousand, nine hundred and twenty one TL)

- discretionally by 3 thousandth of the annual gross revenues that accrued by the end of the fiscal year 2010, which were determined by the Board.

b) and UNANIMOUSLY that, although it was established that Koçbank A.Ş. and Pamukbank A.Ş. were part of the agreement during 2001 and 2002, because the five year time limit provided under the abolished Article 19 of the Act No. 4054, which was in force at the time of the infringement, ended, Türkiye Halk Bankası A.Ş. and Yapı ve Kredi Bankası A.Ş. need not be given administrative fines due to the acts of the said banks.

The reasoned decision will be notified later.