Bank Asya sells stakes in 2 subsidiaries


Date posted: July 6, 2014

ISTANBUL

Leading Turkish Islamic lender Bank Asya has decided to sell its stakes in two subsidiaries for TL 132 million ($62 million), the bank said on Wednesday.In a statement to Borsa İstanbul (BIST), Bank Asya said it is selling a 24.18 percent stake in Turkish construction firm Tuna Gayrimenkul for TL 62.8 million. The bank also said it is selling another construction company, Nil Yönetim Hizmetleri, for TL 69.25 million. The bank owned all shares in Nil. At the beginning of June, the bank said it planned on selling its subsidiaries. The move comes amid efforts of Bank Asya to raise capital.

In related international deals Qatar Islamic Bank (QIB) said in March that it had entered into exclusive talks to buy a stake in Asya without giving further details except to say that it hoped to conclude the deal within the next few months. On Wednesday Reuters cited four sources close to the matter as saying that QIB and Bank Asya have ended exclusive talks over QIB acquiring a stake in the Turkish lender, with valuation concerns said to be behind the decision.

Turkish state bank Ziraat may now be the most likely partner for Bank Asya, but the two banks have not officially begun talks, three of the sources told Reuters.

“Talks with QIB have finished. Bank Asya has been going through tough times since Dec. 17. They are in talks with Ziraat,” one source close to the deal said. It was not clear what size stake had been under discussion. The Qatari lender didn’t respond to a request for comment. Bank Asya and Ziraat also declined to comment.

The talks with QIB faltered after the banks failed to agree on a price, the sources said. Turkish banks are a natural target as Qatari banks expand overseas, but price has become a highly sensitive issue after the state’s second-biggest bank by assets, the Commercial Bank of Qatar, was seen overpaying last year to acquire a 70.8 percent stake in Turkey’s Alternatifbank.

Source: Todays Zaman , June 2, 2014


Related News

Gülen’s critics have no supporting evidence, says academic

EMRE OĞUZ American sociology professor Helen Rose Ebaugh, who has written a book analyzing the Gülen movement, has said those criticizing the movement have no documents to back up their criticisms. Ebaugh, the author of a book titled “The Gülen Movement: A Sociological Analysis of a Civic Movement Rooted in Moderate Islam,” was speaking at […]

Congratulations to Fethullah Gulen and Izzettin Dogan

Taha Akyol The foundation of a social and cultural center comprising a mosque and cemevi in the same complex has been laid in Mamak district of Ankara. The mosque and cemevi will rise side by side in the complex on a land of approximately 35,000 ft2. The complex will consist of dede (socio-religious leader of […]

Experts speak on role of digital media in society in İstanbul

The Medialog Platform brought together academics and communication experts from different parts of the region surrounding Turkey in İstanbul on Friday for their second International Communication Conference, to discuss the impact of social media on politics and social movements.

Deported Turkish Teacher Was Denied Political Asylum, DP Calls For Independent Investigation

The Turkish teacher who was deported to Turkey on 1 January had requested political asylum, but the request was denied.

Had the Kurds believed in Said-i Kurdi, their children wouldn’t have died

Naim from Diyarbakir sent me a message. He says: “The Kurds would listen to you if you said something to them, because you’re coming from a leftist tradition. Evil powers like PKK and KCK can’t stand the approval for Gulen Movement’s service for Kurds.”

Texans experience Turkish culture by volunteering

After helping to distribute charity Kimse Yok Mu’s (Is Anybody There) Eid al-Adha care packages to families in Turkey, four Americans travelling across the country shared their satisfying experiences with local Turkish families.

Latest News

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

After Reunion: A Quiet Transformation Within the Hizmet Movement

Erdogan’s Failed Crusade: The World Rejects His War on Hizmet

Fethullah Gulen – man of education, peace and dialogue – passes away

Fethullah Gülen’s Condolence Message for South African Human Rights Defender Archbishop Desmond Tutu

Hizmet Movement Declares Core Values with Unified Voice

In Case You Missed It

A Ramadan Birthday Dinner

[Part 3] Gülen says gov’t cut back on rights and freedoms in Turkey

Frontal assault on free enterprise in Turkey: The case of prep-schools

Nigeria’s House of Representatives wants Turkey to know that Nigerian lives matter

Turkish schools abroad victims of AKP-Gulen conflict

Gülen says praying for kidnapped schoolgirls, Nigerian people

Erdoğan’s scapegoats: the West and Gülen

Copyright 2025 Hizmet News