Shares of Türkiye's state lender Halkbank surged nearly 10% on Tuesday, with analysts ​linking it to the anticipation that a U.S. case against ‌the bank will end on June 10.

This would potentially enable faster growth at Halkbank because it could ​reopen non-deposit funding channels, they said, highlighting ​the end of a 90-day deadline for the ⁠bank to demonstrate compliance with a U.S. ​agreement signed in March.

The shares were last up by around 1.8% at TL 48.7 at 1 p.m. local time (10 a.m. GMT) on Wednesday.

"Linking the recent moves in the ​stock to speculation surrounding the approaching end of this process would not be wrong," said Ata Invest Deputy General Manager ​for Research Cemal Demirtaş, adding that limited ​liquidity in Halkbank's shares was also contributing to sharp price swings.

Shares ‌in ⁠Halkbank have risen 25% year-to-date, while Türkiye's main banking index is down 6%.

Halkbank, which was accused of having allegedly helped Tehran evade U.S. economic sanctions, signed an agreement ​in March forbidding ​it from ⁠entering into transactions that benefit Iran.

It said it would not admit to any ​criminal wrongdoing and would not pay any ​judicial ⁠or administrative fines.

Following the deal, Halkbank hired Ernst & Young to review its compliance with U.S. sanctions and anti-money ⁠laundering ​policies, lawyers for the bank ​said in a court filing in March.