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

Erdoğan says personally pursuing fight against ‘parallel structure’

President Recep Tayyip Erdoğan acknowledged during a speech on Tuesday that he has personally been pursuing a “fight” against the so-called “parallel structure,” adding that his administration is ready to cooperate with district governors to “clear” its members from state bureaucracy.

Exiled journalist warns of a genocide in the making in newly released book

“The increasingly widespread witch-hunt, systematic and widespread hate speech, ongoing persecution and massacre of Gulen movement members have made conditions in Turkey ripe for a deliberate, planned and systematic genocide,” Bülent Keneş, a veteran Turkish journalist in exile, wrote in his newly released book.

Textile firms expand $153 bln export industry at TUSKON meeting

NOAH BLASER, İSTANBUL In an opening ceremony that was broadcast in seven languages, Turkish officials and businesspeople acknowledged the importance of building ties with partners in developing markets at the Turkey-World Trade Bridge summit on Wednesday. “The axis of the world has shifted, and is turning toward the developing world,” said Turkish Economy Minister Zafer […]

Hatred-inciting discourses and the debate on ‘genocide and crime against humanity’

Speaking to reporters on April 29 during his return from an official visit to Kuwait, President Erdoğan made these much-debated remarks: “Those belonging to this organization [Hizmet movement], from top to bottom, should certainly pay a price. They will either respect state authority or WILL PERISH.”

Gülen movement-backed Abant Platform to discuss Alevi-Sunni ties

The Alevi issue is the key theme of this year’s Abant Platform, which started on Dec. 13 by way of the organization efforts of the Gülen Movement-affiliated Journalists and Writers Foundation (GYV). The three-day meeting which has gathered intellectuals from various ideological camps came at a time when tension between the government and the movement has become extremely visible in the eyes of the public due to the former’s plans of “transforming” the private “cram schools.”

Grand stage shows by Turkish Olympiad students enthrall İzmir locals

İPEK ÜZÜM, İSTANBUL Students coming to Turkey from all around the globe for the 11th International Turkish Olympiad — a festival that celebrates the Turkish language and which this year has brought together 2,000 students from 140 countries — fascinated thousands of locals in İzmir with their stage performances on Sunday night. A very large […]

Latest News

Sacramento leaders gather for Iftar dinner in celebration of Ramadan

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

In Case You Missed It

Code ‘111′ profiling of ‘Hizmet’ on Parliament’s agenda

Al-Zuhayli says Gülen’s ideas hope of humanity

Conferences on Hizmet movement in Egypt attracted masses

Islamic scholar gave Buddhist point to ponder

“Volunteers of education can end the chaos in the Muslim world”

Turkish-Americans in Tennessee worry about their homeland

Turkish Schools have changed the view against white people in Africa

Copyright 2026 Hizmet News