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

Michael Flynn, President Trump’s first national security adviser, was paid to investigate Fethullah Gulen during election campaign

Michael T. Flynn, President Trump’s first national security adviser, acted as a foreign agent representing the interests of Turkey’s government in exchange for more than $500,000 during last year’s campaign even as he was advising Mr. Trump. Mr. Flynn was assigned to investigate Fethullah Gulen, a Turkish cleric who lives in Pennsylvania.

Academic says Gülen movement followers should be sent to rehabilitation camps

A professor of communications, Muttalip Kutluk Özgüven, has said followers of the Gülen movement should be sent to rehabilitation camps and subjected to psychological treatment. “Their bodies do not belong to them. They have to serve Turkey’s interests,” he said.

Cameroonian Governor Thanked Turkish Nation for the Turkish Schools

ENSAR TUNA ALATÜRK – BURSA Abakar Ahmat, the Governor of Ngaundere state, Republic of Cameroon, paid a visit to Sahabettin Harput, the Governor of Bursa, Turkey. Mr. Ahmat thanked Mr. Harput for the Turkish schools in Cameroon on behalf of the Turkish nation. Governor Ahmat was accompanied during the visit by the Mayor of Ngaundere Hamadou Dawa, […]

Main opposition deputy head slams gov’t for targeting Hizmet Movement

Republican People’s Party (CHP) Deputy Chairman Faruk Loğoğlu criticized government, which signaled Hizmet Movement should be included in “Red Book,” a national security document in which major threats against the nation are enumerated, on Thursday.

Turkey just snatched six of its citizens from another country

The Pristina abductions are merely the latest episode of Turkey’s global purge, the government’s campaign to pursue its opponents all over the world, which began in 2014 but has accelerated dramatically since the coup attempt of July 2016. In this time, Turkey has repeatedly resorted to extralegal means to target its perceived opponents abroad.

Questions over corruption and paralysis of politics [in Turkey]

The corruption crisis, the related ongoing judicial process and PM Recep Tayyip Erdoğan’s stance towards this process have led many people to have serious concerns over justice and the latest developments have made me pose the following questions. I think that we strongly need honestly speaking and honestly thinking politicians to answer these questions for the sake of liberal democracy and universal values such as rule of law.

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

Keep Incirlik, Extradite Gülen?

Nigerian Turkish schools denies links to Turkey coup

Education for Sustainable Development

Turkish Cultural Center’s Meat Drive in New York

Turkish newspaper ‘Zaman’ shuts down in Germany amid ‘threats’

Turkish delegation visits Crimea Simferopol International School

Police officers become victims of torture in Turkey

Copyright 2026 Hizmet News