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media reported that state-owned companies and institutional depositors loyal to Prime Minister Recep Tayyip Erdoğan had withdrawn TL 4 billion ($1.8 billion), or some 20 percent of the bank’s total deposits, because the bank’s founders include sympathizers of cleric Fethullah Gülen, a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

Did Erdogan stage the coup?

Erdogan called the coup attempt and the excuse to crush his opponents “a gift from God.” But was the coup really “a gift from God” or was it Erdogan’s gift to himself? Was it Turkey’s equivalent of the Reichstag Fire?

Turkish Teacher Died Under Custody in the Aftermath of the Coup Attempt

Turkish teacher who was denied medical aid after harsh treatment, dies under custody. Gokhan Acikkolu was a teacher of history. As many people, he was detained on charge of being Gulen Fallower on July 23,2016. He died under police custody. He died without even knowing what he was accused of.

Gülen worries fake news could associate new terror attacks, assassinations in Turkey with him

US-based Turkish Islamic scholar Fethullah Gülen said on Tuesday that fabricated stories in the pro-government media about new terror attacks and political assassinations in Turkey could be associated with followers of the faith-based Gülen movement.

Turkish Airlines discriminates against critical newspapers on planes

THY significantly slashed its number of subscriptions to the aforementioned newspapers following an open disagreement between the government — which had made a decision to shut down prep schools — and the dailies, which held a critical editorial stance against the move. The numbers of these newspapers were lowered in THY’s private “Commercially Important Persons” lounge.

Erdoğan hampers girls’ education [by shutting down prep schools run by the Hizmet movement]

Adalet Binici, a 14-year-old Kurdish girl in eighth grade, became the champion in last year’s Level Determination Examination (SBS), a high school placement test administered by the Turkish government to over a million students nationwide, thanks to the supplementary education and training provided by a prep school run by the Hizmet movement that is inspired by education-savvy Islamic scholar Fethullah Gülen.

Fethullah Gulen Denies Coup Involvement

Fethullah Gulen, a Muslim cleric living in self-exile in the U.S. and a political rival of President Recep Tayyip Erdogan of Turkey, insisted Saturday that he had no involvement in Friday’s attempted coup.

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

Burc Schools achieve 13 medals in AMC 8

‘Parallel’ paranoia reaches the kitchen of Parliament

Kimse Yok Mu extends help to Afghan quake victims

Erdoğan and AK Party deputies split over hate speech against Hizmet

Erdoğan’s Henchman: Oppression Targeting Gülen Movement To Be More Severe After Zarrab Case

Judge suffering cancer jailed in Kocaeli, wife under detention in Tokat

Guest post: Turkey and the problem of political continuity

Copyright 2026 Hizmet News