IslamicFinance.de

Turkey's Bank Asya on Tuesday posted a third-quarter net loss on loan provisions and a shrinking balance sheet but said its operations were healthy despite political turmoil that has surrounded it for much of the year. The Islamic lender fell to a 301 million lira ($133 million) net loss from a 60 million lira profit a year earlier. Assets of 16.5 billion lira at the end of the third quarter were down 40 percent from the end of 2013, while deposits almost halved to 10.07 billion over the same period. The bank continued its operations with a capital adequacy ratio of 18.32 percent, despite a 9-month loss due to higher loan provisions as part of efforts to increase asset quality, Chief Executive Ahmet Beyaz said.