Bank Asya, a leading Turkish financial institution, announced on Sunday that their corporate governance rating had increased in June over its score from last year.
The bank released the figures in an announcement addressed to the Public Disclosure Forum (KAP). According to a recent report prepared by the Capital Markets Board (SPK), Bank Asya’s corporate governance rating increased from 84.20 in June 2013 to 90.85 in June of this year.
The founders of Bank Asya are known for being affiliated with the Hizmet movement, inspired by Islamic scholar Fethullah Gülen. News reports circulated earlier this year indicating the government had attempted to sabotage the bank, as corporations with close ties to Prime Minister Recep Tayyip Erdoğan withdrew upwards of TL 4 billion from their accounts, accounting for nearly one-fifth of the bank’s deposits.
The July 22 operation has shown the meaning and characteristics of the ongoing process that we are experiencing right now. The allegations that serve as the pretext for the July 22 operation will have a boomerang effect, because what we understand from the initial findings of the investigation is that the arguments of the government have been proven to be ungrounded.
Bank Asya says raising capital, set for growth
“Bank Asya expects to raise its total capital by TL 300 million to TL 1.2 billion. … We sold an 18 percent stake in the retail chain A101 as part of this plan,” the bank said. Bank Asya said its capital adequacy ratio is 14.8 percent — well above the conventionally accepted minimum level of 12 percent — and that it expects to enjoy further growth in 2014. The bank said it expects the capital adequacy ratio to reach 17 percent, making it one of the five strongest (in capital) banks in Turkey. Previously, the bank held 21.84 percent of the shares in A101.
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