Bank Asya's shares increased by 10.14 percent to TL 0.76 after the private lender resumed trading in the second session of Turkey's stock exchange on Wednesday, six days after a ban was imposed on the lender amid ownership concerns propagated by pro-government media outlets.
The stocks of Bank Asya were reopened to trade at 2 p.m. at TL 0.69 -- the base the lender was priced at on its last trading day. After decreasing to TL 0.64, the shares surged to TL 0.76.
Issuing a statement to the Public Disclosure Platform (KAP) on Wednesday, the Borsa İstanbul (BİST) announced that the shares of Bank Asya, opening to trade at TL 0.69 within a price margin of plus or minus 10 percent, resumed trading after a temporary ban.
Bank Asya, Turkey's largest Islamic lender, has been under serious attacks by President Recep Tayyip Erdoğan and pro-government media outlets since a corruption and bribery scandal went public in December of last year. Then-Prime Minister Erdoğan accused the Hizmet movement and institutions allegedly affiliated with it of planning a coup attempt. Bank Asya was also targeted by a smear campaign aimed at the movement -- a campaign led by Erdoğan and his allies, even though comments discrediting the image of publicly traded companies or/and banks constitute a crime.
Published on Today's Zaman, 24 September 2014, Wednesday