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Turkey to hear bank defence next month in rate-setting probe
January 10, 2013 / 4:17 PM / 5 years ago

Turkey to hear bank defence next month in rate-setting probe

ISTANBUL, Jan 10 (Reuters) - Turkey’s competition regulator will hear defence from a dozen Turkish banks under investigation for alleged collusion in setting loan rates on February 25, competition board officials told Reuters on Thursday.

The final verdict would be given within 15 days following the hearing, the officials said.

Turkey’s Competition Board said in November 2011 it had launched an investigation into complaints of anti-competitive behaviour by the banks and that the probe would likely last one year.

Reporting by Orhan Coskun, Writing by Seda Sezer

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