Bank Asya says raising capital, set for growth


Date posted: January 27, 2014

İSTANBUL
Turkey’s leading participation bank, Bank Asya, has sold part of a stake in a retail chain to help boost its capital adequacy ratios and foresees growth in 2014, the bank said in a written statement on Sunday.

“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.

The decision to sell the A101 shares comes amid efforts to insulate the bank against future economic and financial shocks, particularly following a recent withdrawal of assets in large quantities. Certain companies have withdrawn capital from Bank Asya allegedly as part of a plan to sink the bank orchestrated by Prime Minister Recep Tayyip Erdoğan’s government. Erdoğan vowed to clamp down on Turkey’s largest Islamic group, the Hizmet movement — with which Bank Asya is affiliated — since he believes that the Hizmet movement is behind an ongoing corruption probe that has implicated top government officials.

The bank said last week it “overcame the stress test successfully.”

Bank Asya posted a profit of TL 61 million for the third quarter of 2013. The bank increased its net profits by 9.5 percent in the third quarter over the second, with profits totaling TL 161 million in the first nine months of that year. It also increased its assets by 33 percent to TL 28.4 billion, cash loans by 30 percent to TL 21.2 billion, reserves by 24 percent to TL 19.5 billion and equities by 6 percent to TL 2.5 billion in the same period.

Source: Todays Zaman , January 26, 2014

Tags: | |


Related News

Social, legal sanctions needed in fight against domestic violence

İPEK ÜZÜM, İSTANBUL Social sanctions will be necessary alongside legal measures if domestic violence is to be curbed in Turkey, according to experts from a number of fields who gathered at a conference of the Journalists and Writers Foundation (GYV) in İstanbul on Sunday, marking the International Day for the Elimination of Violence against Women. […]

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

Erdoğan fired a warning shot across the bow of the Hizmet movement, which operates some one-third of the more than 3,500 prep schools, hoping that the movement would fold under the pressure and shy away from criticizing the government on lingering corruption, the lack of bold reforms, the stalled EU membership process, the failed constitutional work, its intrusion in people’s ways of life and privacy, blunders in foreign policy and the weakened transparency and accountability in governance.

Medialog calls for law against hate speech and crime [in Turkey]

In a two-day conference on hate speech and hate crime organized by Medialog (a platform under Journalist and Writers Foundation) in İstanbul, leading journalists and academics urged the government to draft a law against defamation, blasphemy and discrimination while protecting the freedom of expression.

The Gulen Movement has become Turkey’s most significant export

The Gulen movement has become a global movement. In other words, it is Turkey’s most important export. When you cross boundaries, you have to watch the balance. His statement on the flotilla incident was both domestic and international. However, we must not forget that Gulen does not recommend that people fight those in authority. His statements disturbed both the government and the conservatives in Turkey.

[Press Release] The Corruption and Slander against the Hizmet Movement

Prime Minister marketed the historic graft investigation as a “coup against the government” and he targeted the Hizmet movement by voicing this claim first in the pro-government media outlets and then in the election rallies along with a host of unthinkable lies and slanders.

Turkish government defiant as battle over prep schools rises

Both the government and the Gülen movement have raised the stakes in the debate over a plan to regulate private prep schools, or dershanes. The tension recently peaked, with Erdoğan describing the group’s objection to his government’s plans as a “smear campaign.” Ekrem Dumanlı, editor-in-chief of daily Zaman, which is known for its close ties with the Gülen movement, wrote an open letter to Erdoğan and urged him to review his decision.

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

One of his sons is with the PKK, the other is with the Gulen movement

Dozens of US Congress members urge Kerry to press Turkey for freer media

Libyan minister would like to see Turkish teachers, schools in his country

A February 28 tactic from the PKK

Gülen movement to be discussed at Arab League

Witch-hunt-targeted mother dies in Kabul, family could not attend funeral in Turkey

Syracuse Turkish community celebrates their heritage with a Children’s Festival

Copyright 2026 Hizmet News