Bank Asya shares skyrocket after trading resumes


Date posted: March 29, 2014

ISTANBUL

Bank Asya, which had seen its shares jump by over 44 percent after Qatar Islamic Bank (QIB) said on Tuesday it had entered into exclusive discussions to acquire a stake in the Turkish lender, saw trading of its shares resume after a halt due to unusual price-quantity movement on Friday morning.

Trading of Bank Asya shares was on a halt on Friday until 9:51 a.m. but resumed hours later. Shares saw an 8.13 percent rise and passed the 66.4 percent mark in the last four days. Shares are being traded at TL 1.73 as of early Friday afternoon.

The Islamic bank has been in the spotlight since Turkish media reported that state-owned companies and institutional depositors loyal to Prime Minister Recep Tayyip Erdoğan had withdrawn TL 4 billion ($1.8 billion), or some 20 percent of the bank’s total deposits, because the bank’s founders include sympathizers of cleric Fethullah Gülen, a former-ally-turned-critic of Erdoğan.

Bank Asya said it had weathered the mass withdrawals and was not at risk. The government has declined to comment. Media speculated the withdrawals were part of an orchestrated backlash against a government corruption investigation, blamed on Gülen, and which poses one of the biggest challenges to Erdoğan’s 11-year rule.

 

Source: Cihan , March 29, 2014

Tags: | | |


Related News

Turkey at the precipice

Turkey has a terror problem. The Islamic State, Kurdish extremists and radical leftists each pursue targets inside Turkey seemingly with impunity. Turkey is no stranger to terrorism, but for decades it managed to control the problem. Turkey’s security forces were efficient. Today, however, the situation has changed. Turkish President Erdogan has purged the military, the police, and intelligence professionals.

The Gulen Movement has become Turkey’s most significant export

The Gulen movement has become a global movement. In other words, it is Turkey’s most important export. When you cross boundaries, you have to watch the balance. His statement on the flotilla incident was both domestic and international. However, we must not forget that Gulen does not recommend that people fight those in authority. His statements disturbed both the government and the conservatives in Turkey.

Gulen Slams Turkey Crackdown Before Erdogan Demands Extradition

The exiled cleric accused by Turkey of orchestrating last year’s attempted coup charged President Recep Tayyip Erdogan with seeking to silence critics, as the Turkish leader prepared to push for the preacher’s extradition in a White House meeting with Donald Trump.

Daily publishes evidence of ‘color lists’ used to recruit public sector employees

The Taraf daily published a document on Wednesday in supports of its allegations that the government recruits public sector employees using “color lists” to avoid people affiliated with groups such as the Hizmet movement.

Mother of 5 children abandoned in parking lot released on high bail

A Turkish court on Monday released a housewife, a mother of five whose children were abandoned in a parking lot after her detention, on TL 50,000 bail. This is a high figure in a country where the minimum wage is approximately TL 1,300. The woman will be put behind bars again if she fails to pay the bail within seven days.

Journalists and Writers Foundation’s statement [on arrest warrant issued for Mr. Gulen]

It is a well-known fact that then-Prime Minister Recep Tayyip Erdoğan had sent Bülent Arınç to Mr. Fethullah Gülen to give him the message, “We are ready to do anything you want us to do,” and that he had called on Mr. Gülen to return to the country to “put an end to homesickness” in the witness of tens of thousands of spectators in a stadium.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

3 dead, 5 missing in attempt to escape Turkey’s post-coup crackdown

Lessons from Dec. 17: Who is parallel?

No return from democracy, Zaman editor Dumanlı says under detention

PBS airs story on Gulen Movement

Reactions snowball after PM likens Hizmet members to Hashishin

Former minister inquires about secret plot against Gülen movement

Rumi Forum Fellowship Program 2015

Copyright 2026 Hizmet News