Bank Asya's Troubled History and Turkish Authorities' Actions

Bank Asya's story is a complex one, filled with controversy and intrigue. The bank was founded in 1996 by a group of Turkish businessmen, including Abdullah Çatlı, a notorious figure with alleged ties to organized crime.

Bank Asya's early years were marked by rapid growth, with the bank expanding its operations and opening new branches across Turkey. However, its success was short-lived, as the bank's fortunes began to decline in the late 2000s.

The bank's troubles were exacerbated by a series of high-profile scandals, including allegations of money laundering and corruption. In 2010, the bank's chairman, Süleyman Aslan, was arrested and charged with embezzlement.

The Turkish authorities took swift action against Bank Asya, imposing strict regulations and eventually forcing the bank to merge with another institution.

Bank Asya has a rich history that spans over several years. The company was founded with a strong focus on expansion, opening 14 branches in 10 cities across Turkey.

One of the notable milestones in Bank Asya's history is the launch of credit card activities and online banking correspondence with all Yapı Kredi branches. This move marked a significant step towards modernizing the bank's services and increasing customer convenience.

In 2001, Bank Asya continued its expansion plans, opening 9 new branches across the country. This brought the total number of branches to 23, increasing the bank's reach and accessibility to a wider population.

Bank Asya's commitment to innovation is evident in its adoption of new technologies. For instance, the bank introduced online banking to the public, making it easier for customers to manage their accounts and conduct transactions remotely.

The bank's growth was also marked by the establishment of correspondent banking relations with other financial institutions. This allowed Bank Asya to expand its services and provide a wider range of options to its customers.

Bank Asya's paid-up capital increased significantly over the years, from TL 120 million to TL 240 million, and later to TL 300 million. This increase in capital helped the bank to further expand its operations and invest in new technologies.

Here's a list of the key milestones in Bank Asya's history:

Turkish authorities took over Bank Asya, the Islamic lender caught up in a feud between President Tayyip Erdogan and US-based religious leader Fethullah Gulen.

The banking watchdog BDDK cited the bank's failure to meet legal criteria as the reason for taking management control in February.

Bank Asya's operating license had not been canceled at this stage, according to Turkey's Savings Deposit Insurance Fund (TMSF), which is responsible for dealing with troubled banks.

The bank's problems began after a run on deposits last year when it became embroiled in the struggle between Erdogan and Gulen.

A lawyer for Bank Asya shareholders, Suleyman Tasbas, said the takeover of the bank was not legally possible in the current situation, according to the Gulen-affiliated Samanyolu news website.

Bank Asya swung to a net loss of 877 million lira ($336 million) in 2014 on shrinking loans and deposits.

For your interest: Bank Deposits down

Bank Asya was a Turkish bank that was founded in 1996 and was known for its Islamic banking practices.

The bank's troubles began in 2015 when it was placed under state control after a failed coup attempt against the Turkish government.

One of the main reasons for the bank's troubles was its alleged ties to the Gülen movement, a Turkish Islamist group that was accused of being behind the coup attempt.

The bank's assets were frozen and its operations were suspended, leading to a significant decline in its value.

The consequences of this decision were far-reaching, with many employees losing their jobs and investors seeing their investments decline in value.

Bank Asya's total assets reached 17.9 billion TL as of March 31, 2012.

The bank provided a significant financial support to the real economy with its financial resources, totaling 22.8 billion TL.

Bank Asya's cash credits increased by 23% in the last year, reaching 14.07 billion TL.

The bank's own funds also showed a notable increase of 11% in the same period, reaching 2.2 billion TL.

Bank Asya's operations are impressive, with a total asset value of 17.9 billion TL as of March 31, 2012. This figure is quite significant.

The bank's financial support to the real economy through cash and non-cash credits reached 22.8 billion TL. This is a substantial amount of money.

In the past year, Bank Asya's cash credits increased by 23% to 14.07 billion TL. This shows a notable growth in the bank's lending activities.

The bank's current and savings accounts also saw a 19% increase, reaching 13.16 billion TL. This is a testament to the bank's ability to attract and manage funds efficiently.

Bank Asya's equity, or the bank's own capital, grew by 11% to 2.2 billion TL in the same period. This is a positive development for the bank's financial health.

At Bank Asya, you can bank without visiting a physical branch. This is thanks to their Şubesiz Bankacılık service, which offers a range of options for managing your finances on the go.

You can access your account 24/7 through the Internet Şubesi, which is available online at any time.

With Cep Bankacılığı, you can use your mobile phone to perform banking tasks, giving you the freedom to manage your money from anywhere.

Asya Uygulama is another option for managing your account, allowing you to perform tasks such as checking your balance and making payments.

You can also contact customer service directly through Alo Asya, a service that's available 24/7.

In addition to these services, you can use Asya24 ATM/PYM machines to withdraw cash and perform other banking tasks.

SMS Şube is another way to manage your account, allowing you to send and receive messages related to your banking activities.

Finally, you can also use the Gezici Şube service, which allows you to perform banking tasks while on the move.

Here are some of the Şubesiz Bankacılık services offered by Bank Asya:

You can find Bank Asya on its official website. They also have a presence on social media platforms like Facebook, Twitter, and LinkedIn.

Their YouTube channel has a large collection of videos. You can also visit their AsyaCard and AsyaCard Ticari websites.