Baku, Azerbaijan, Jan.13
By Rufiz Hafizoglu - Trend:
One of the largest banks in Turkey, Bank Asya, which in September 2014 closed its 80 branches in the country, put its assets in the pension and insurance funds on sale, the Turkish newspaper Star said Jan.13.
In addition, the bank sold its 40 percent stake in the bank Tamweel Afrika Holding for $37.7 million.
In January 2014, Bank Asya also sold its 21.8 percent stake in the Yeni Magazacilik A.S. company for 350 million TL.
The official exchange rate for January 13 is 2,2932 TRY / USD.
On Aug. 7, 2014 Turkey's Banking Regulation and Supervision Agency (BDDK) decided to temporarily suspend the bank's activities.
In order to restore the bank's activity its shareholders made a decision on its recapitalization, and the bank informed the BDDK about this.
On Sept. 15, 2014 the bank resumed its work.
On Sept. 18, 2014 Turkey's President Recep Tayyip Erdogan announced that the bank is on the verge of bankruptcy, dismissing allegations that the country's government is deliberately taking steps to close it down.
Earlier, it was reported that Bank Asya has close ties to Fethullah Gulen's movement.
Edited by CN
Follow the author on Twitter: @rhafizoglu
