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Report: Turkey hopes to sell or liquidate Bank Asya by May-end

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Report: Turkey hopes to sell or liquidate Bank Asya by May-end

Mehmet Ali Akben, head of Turkish banking regulator BDDK,said May 10 that Asya KatilimBankasi AS could be sold or liquidated by the end of May, Reutersreported the same day.

Akben said the Turkish Savings Deposit Insurance Fund is indiscussions with unidentified institutions concerning a sale of the bank, thenewswire noted. The BDDK, which took control of Bank Asya in 2015, plans to liquidatethe lender if the fund fails to find a buyer, Akben added.

Bank Asya is one of more than 20 companies with ties toU.S.-based Muslim cleric Fethullah Gulen that have been the target of a Turkishgovernment crackdown, Reuters said.