Turkey's Bank Asya Q2 net profit tumbles 81 percent

ISTANBUL Tue Aug 12, 2014 1:23am EDT

Related Topics

ISTANBUL Aug 12 (Reuters) - Turkish Islamic lender Bank Asya posted a net profit of 10.6 million lira ($4.9 million) in the second quarter, sliding 81 percent from a year earlier, it said in a statement to the Istanbul stock exchange late on Monday.

It has seen its profits and capital base collapse since it found itself at the centre of a power struggle between Prime Minister Tayyip Erdogan and his former ally Fethullah Gulen, the Islamic cleric whose sympathisers founded the bank and who has since become Erdogan's foe. (Reporting by Ceyda Caglayan; Editing by Daren Butler)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.