Banking watchdog finds it hard to sell debt-ridden Bank Asya
The head of the Savings and Deposits Insurance Fund said the deadline for the sale of Bank Asya is May 29. If a buyer cannot be found, the bank will be liquidated. The bank started reporting huge losses throughout 2015, while its shares were suspended from trading in Borsa Istanbul. Later it was taken over by the Savings Deposit Insurance Fund. According to the audit report on Bank Asya the bank's shareholders signed blank transfer contracts and a large number of dubious transactions were carried out.
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