Bank Asya shares close third day with 49 percent loss
by Daily Sabah
ISTANBULSep 17, 2014 - 12:00 am GMT+3
by Daily Sabah
Sep 17, 2014 12:00 am
Shares in Turkey's Bank Asya fell 20 percent on Wednesday to 0.64 Turkish liras (0.29 USD), to their lowest in five and a half years. The stock price has dropped 49 percent this week, since the shares resumed trading on Monday.
The profits and capital of Bank Asya –which is known to have close ties to the Gülen Movement– have been tumbling since December.
Bank Asya's attempt to form a strategic partnership with Qatar Islamic Bank (QIB) earlier this year never materialized, while Turkish state-run Ziraat Bank abandoned its plan to acquire Bank Asya last month.
The shares of the bank were suspended on Aug. 7 on the Istanbul exchange market due to ambiguities in the ownership of the bank. The ban was lifted on Monday, and trading of Bank Asya shares resumed, but pressure on the shares continue with uncertainty in the air.
Keep up to date with what’s happening in Turkey,
it’s region and the world.
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.