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Report: Bank Asya selling insurance units


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Report: Bank Asya selling insurance units

Asya KatilimBankasi AS, whose banking license was in July, said its insurancesubsidiaries, Asya Emeklilik veHayat AS and IsikSigorta AS, have been put up for sale, Sigorta Medya reported Oct.6.

The bank put forward a sale price of 40.8 million Turkishlira for Isik Sigorta shares and 33.2 million lira for Asya Emeklilik ve Hayatshares. Potential buyers were asked to submit their offers by noon Oct. 28.

The tender will be held Oct. 31, the report added.

As of Oct. 7, US$1 was equivalentto 3.05 Turkish lira.