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Turkey's Garanti Bankası appeals fine in France

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Turkey's Garanti Bankası appeals fine in France

Türkiye Garanti Bankasi AS said it has appealed a French tribunal's decision to impose a judicial fine on the Turkish lender in connection with a litigation matter.

In September 2017, Garanti was reported to be facing a fine of €8 million from a French court in a case relating to account closures in 2009. The litigation against the lender and a number of other individuals reportedly alleged tax carbon trading fraud.