Turkish bank slapped with $22 million fine for pandemic violations

Turkey’s Banking Regulation and Supervision Agency (BDDK) has issued a 155 million lira ($22.6 million) to a private bank for violating pandemic measures, Diken news site reported on Wednesday. 

The fine levelled at Akbank was sparked by the bank’s violation of BDDK’s regulations for financial institutions in stemming the spread of COVID-19, the bank said in a statement it issued.

“The administrative fee will not have an important effect on our bank’s financial statements,’’ Akbank said, adding that it would take advantage of a 25 percent discount for a full payment.

Earlier this month, the BDDK slapped seven banks with fines totalling 204.6 million lira ($29.8 million) following complaints from customers that the financial institutions were in violation of the agency’s regulations.