Turkey’s Bank Asya posts $336 mln net loss in 2014

Islamic lender Bank Asya has posted a net loss of 877 million lira ($335.58 million), it said in a stock exchange filing late on Monday. (File photo: AFP)

Islamic lender Bank Asya has posted a net loss of 877 million lira ($335.58 million), it said in a stock exchange filing late on Monday.

The bank, in which Turkish banking regulators seized a small stake last week over an alleged illegal share sale, had posted a net profit of 180.6 million lira in 2013.

Bank Asya, founded by followers of the Islamic scholar and cleric Fethullah Gulen, has been battered by President Tayyip Erdogan’s attempts to wipe out Gulen’s religious movement, which he accuses of attempting to build a "parallel state".

Regulators last month took over the bank’s management after the government said it failed to meet some legal criteria.
 

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Last Update: Wednesday, 20 May 2020 KSA 09:46 - GMT 06:46
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