Turkish Bank Asya closes because of the Erdogan-Gulen conflict

 

Turkish Bank Asya closes because of the Erdogan-Gulen conflictTurkish Bank Asya closed due to the fall of its shares, reports Trend. Bank Asya shares have fallen 43 percent this week since resuming trading following a suspension on August 7 due to uncertainty about its future.Bank, with more than a million deposit-holding customers and 280 branches, is caught at the centre of a power struggle between Erdogan and Fethullah Gulen, an Islamic cleric whose sympathisers founded the bank, writes Reuters.Bank Asya Chief Executive Ahmet Beyaz said this week the bank was healthy and vowed to see off what he said was a "smear campaign". The bank, he said, was meeting all its obligations, Reuters reports.

 

The Turkish Bank Asya has closed due to a fall in its shares, Trend reports. Bank Asya shares have fallen 43 percent this week since resuming trading following a suspension on August 7 due to uncertainty about its future.

 

The bank, with more than a million deposit-holding customers and 280 branches, is caught at the centre of a power struggle between Erdogan and Fethullah Gulen, an Islamic cleric whose sympathizers founded the bank, writes Reuters.

 

 

Bank Asya Chief Executive Ahmet Beyaz said this week the bank was healthy and vowed to see off what he said was a "smear campaign". The bank, he said, was meeting all its obligations, Reuters reports.