Bank Asya was established in October 24, 1996 with its head office in Istanbul, as the sixth private finance house of Turkey. The company's name, which had been previously "Asya Finans Kurumu Anonim Şirketi" (Asya Finance Incorporated Company), was changed into "Asya Katilim Bankasi Anonim Şirketi" (Asya Participation Bank Inc.) on December 20, 2005.
İsmail GÜLER - Chairman of the Board of Directors; Abdullah GÜZELDÜLGER- Board Member President & CEO[1]
Number of employees
over 2,448
Website
www.bankasya.com.tr
Bank Asya, with an initial capital of TRY2 million and paid up capital of TRY900 million, had a multi-partnered structure based on domestic capital. At the end of 2009, Bank Asya’s total assets reached TRY14 billion. Bank Asya rose by 47 places in the “Top 1000 World Bank Ranking” of “The Banker” Magazine in 2010, rising to 473 from 520. At the same time, Bank Asya ranked 403rd on “The Banker’s Top 500 Banking Brands”. Bank Asya has also become the largest participation bank in Turkey.[citation needed]
Bank Asya carried out its activities with 182 branches, 2 national and 1300 foreign correspondent banks besides the head office units as of May 2011.
The bank has been strongly tied to the controversial Gülen movement, led by the Islamic cleric and preacher Fethullah Gülen,[2] and is widely considered to be founded and operated by his followers.[3] By the end of 2013, the relationship between the Gulen movement and the ruling AK Party soured, and the Gulen movement was declared a national security threat. Consequently, Bank Asya lost a large fraction of its deposits and its lucrative contracts with government agencies. Its net income plummeted 81% in the second quarter of 2014. Its stock is currently suspended from trading by BIST (Istanbul Stock Exchange), due to uncertainties regarding its ownership structure. Two separate acquisition deals (by Qatar Islamic Bank and by Turkish state owned Ziraat Bank) fell apart. Finally, on August 25, 2014, Moody's downgraded the bank with the statement "During this period, the bank's net income declined by 81% compared to last year. Additionally asset quality also deteriorated. These sharp deterioration trends in financial fundamentals resulted in lowering the bank's rating."
On 22 July 2016, the Banking Regulation and Supervision Agency (BDDK) cancelled Bank Asya's banking permissions as part of the 2016 purges.[4]
Bank Asya was founded on October 24 in Istanbul, Turkey
1997
14 branches were opened in 10 cities (branches include Kadiköy, Merter, Şişli, Güneşli, Pendik(İstanbul), Ulus (Ankara), İzmir, Bursa, Konya, Gaziantep, Kayseri, Eskişehir, Antalya and Aydin)
1998
Bank Asya launched credit card activities
Established online banking correspondence with all Yapı Kredi branches
Sultanhamam branch was opened
1999
Bank Asya became subject to Turkish Banking Law
2000
Online Banking became available to the public
9 branches were opened (branches include Ostim (Ankara), Diyarbakir, Erenköy, Ümraniye, Fatih, Gaziosmanpaşa (İstanbul), Gebze, Erzurum and Samsun)
2001
The Union of Private Finance Houses was founded
The Regulation for Foundation and Activities of Private Finance Houses began operations on September 20
2002
3 branches were opened (branches include Denizli, Adapazari and Beylikdüzü)
Private Finance Houses Private Current and Savings Accounts Safety Fund Regulation began operation on September 18
Installment credit cards were launched
ATMs were put into service
Correspondent banking relations were established with Türk Ekonomi Bankasi and Denizbank branches
2003
17 branches were opened
Correspondent banking relation was established with Şekerbank branches
Tax collection authority was granted by the Ministry of Finance
Nationwide facility for credit card payment and money transfers by Asya Finans customers through on-line PTT branches was initiated
Bank Asya became a member of VISA on October 24
2004
Alo Asya (444 4 888) Telephone Banking was put into operation on January 1 and March 17, for retail and corporate customers, respectively
19 branches were opened
The organizational structure of the Head Office was changed and operations began being carried out by 24 units
2005
The company name, which had been previously "Asya Finans Kurumu A.Ş.", was changed into "Asya Katilim Bankasi A.Ş."
Membership agreement was signed with MasterCard on May 18
Bank Asya launched chip credit card activities
Bank Asya became registered in the presence of Trade Register Office of Istanbul on December 20
Paid-up capital has increased from TL 120 million to TL 240 million
11 branches were opened
2006
On May 12, Bank Asya shares began trading at the (İstanbul Stock Exchange) ISE with the code of ASYAB
Paid-up capital has increased from TL 60 million to TL 300
2007
26 new branches were opened. Bank Asya branches have increased to 118
New Head Office building in Ümraniye commenced service on October 1
2008
Bank Asya became title sponsor for the First League of Turkish Football Federation
AsyaCard DIT, the most extensive, off-line credit card of Europe, and AsyaPratik DIT, the first pre-paid bank card of Turkey, were brought into use
The first transportation project with which AsyaCard can be used has been put into service and AsyaCard began to be used for transportation in Kahramanmaras
Paid-up capital has increased to TL 900 million
Number of branches has increased to 149
2009
Bank Asya was displayed as the bank having the most effective performance in the "Top 1000 World Banks" list of financial magazine The Banker.
The first contactless prepaid bank card of Turkey, DIT Pratik, ranked first in 2009 category
A strategic cooperation agreement was signed between Bank Asya and ICD, one of the corporations of Islamic Development Bank (IDB) and Bank Asya went in a partnership with Senegal - based Tamweel Africa Holding SA
Assets reached TL 11,6 billion; increasing 43% compared to the same period of the last year
Reaching 22,2% profit rate Bank Asya has become the most profitable interest - free bank of Turkey for last three years
Development of residential and saleable real estate and generation of rental revenue from its own real estate portfolio.
STRATEGY: IPO in 3 years
TAMWEEL Africa Holdingedit
Bank Asya and ICD (Islamic Corporation for the Development of the Private Sector), a subsidiary of the Islamic Development Bank jointly carry out interest-free banking activities in West Africa
Bank Asya owns a 40% stake and ICD 60% in Senegal-based TamweelAfrica Holding SA
Partnership could expand up to 22 countries in Africa
Referencesedit
^ Archived from the original on 2012-01-15. Retrieved 2011-06-15.
^Benjamin Harvey (23 December 2013). "Erdogan Retaliation Seen Hurting Gulen Companies: Istanbul Mover". Bloomberg News. Retrieved 19 January 2014.
^Helen Rose Fuchs Ebaugh (1 December 2009). The Gülen Movement: A Sociological Analysis of a Civic Movement Rooted in Moderate Islam. Springer. p. 109. ISBN978-1-4020-9894-9.
^"Bank Asya'nın faaliyet izni kaldırıldı" (in Turkish). CNN Türk. Retrieved 24 July 2016.
^ Archived from the original on 2012-02-11. Retrieved 2011-06-15.
^ ab Archived from the original on 2012-03-25. Retrieved 2011-06-15.
bank, asya, this, article, relies, excessively, references, primary, sources, please, improve, this, article, adding, secondary, tertiary, sources, find, sources, news, newspapers, books, scholar, jstor, august, 2011, learn, when, remove, this, template, messa. This article relies excessively on references to primary sources Please improve this article by adding secondary or tertiary sources Find sources Bank Asya news newspapers books scholar JSTOR August 2011 Learn how and when to remove this template message Bank Asya was established in October 24 1996 with its head office in Istanbul as the sixth private finance house of Turkey The company s name which had been previously Asya Finans Kurumu Anonim Sirketi Asya Finance Incorporated Company was changed into Asya Katilim Bankasi Anonim Sirketi Asya Participation Bank Inc on December 20 2005 Bank AsyaTypeParticipation BankIndustryFinancial servicesFoundedOctober 24th 1996DefunctJuly 22 2016 2016 07 22 HeadquartersIstanbul TurkeyKey peopleIsmail GULER Chairman of the Board of Directors Abdullah GUZELDULGER Board Member President amp CEO 1 Number of employeesover 2 448Websitewww bankasya com trBank Asya with an initial capital of TRY2 million and paid up capital of TRY900 million had a multi partnered structure based on domestic capital At the end of 2009 Bank Asya s total assets reached TRY14 billion Bank Asya rose by 47 places in the Top 1000 World Bank Ranking of The Banker Magazine in 2010 rising to 473 from 520 At the same time Bank Asya ranked 403rd on The Banker s Top 500 Banking Brands Bank Asya has also become the largest participation bank in Turkey citation needed Bank Asya carried out its activities with 182 branches 2 national and 1300 foreign correspondent banks besides the head office units as of May 2011 The bank has been strongly tied to the controversial Gulen movement led by the Islamic cleric and preacher Fethullah Gulen 2 and is widely considered to be founded and operated by his followers 3 By the end of 2013 the relationship between the Gulen movement and the ruling AK Party soured and the Gulen movement was declared a national security threat Consequently Bank Asya lost a large fraction of its deposits and its lucrative contracts with government agencies Its net income plummeted 81 in the second quarter of 2014 Its stock is currently suspended from trading by BIST Istanbul Stock Exchange due to uncertainties regarding its ownership structure Two separate acquisition deals by Qatar Islamic Bank and by Turkish state owned Ziraat Bank fell apart Finally on August 25 2014 Moody s downgraded the bank with the statement During this period the bank s net income declined by 81 compared to last year Additionally asset quality also deteriorated These sharp deterioration trends in financial fundamentals resulted in lowering the bank s rating On 22 July 2016 the Banking Regulation and Supervision Agency BDDK cancelled Bank Asya s banking permissions as part of the 2016 purges 4 Contents 1 History 2 Ratings 2 1 Moody s 2 2 Fitch 3 Former subsidiaries 3 1 Isik Sigorta 3 2 TUNA REIT Real Estate Investment Trust 3 3 TAMWEEL Africa Holding 4 References 5 External linksHistory edit1996 Bank Asya was founded on October 24 in Istanbul Turkey1997 14 branches were opened in 10 cities branches include Kadikoy Merter Sisli Gunesli Pendik Istanbul Ulus Ankara Izmir Bursa Konya Gaziantep Kayseri Eskisehir Antalya and Aydin 1998 Bank Asya launched credit card activities Established online banking correspondence with all Yapi Kredi branches Sultanhamam branch was opened1999 Bank Asya became subject to Turkish Banking Law2000 Online Banking became available to the public 9 branches were opened branches include Ostim Ankara Diyarbakir Erenkoy Umraniye Fatih Gaziosmanpasa Istanbul Gebze Erzurum and Samsun 2001 The Union of Private Finance Houses was founded The Regulation for Foundation and Activities of Private Finance Houses began operations on September 202002 3 branches were opened branches include Denizli Adapazari and Beylikduzu Private Finance Houses Private Current and Savings Accounts Safety Fund Regulation began operation on September 18 Installment credit cards were launched ATMs were put into service Correspondent banking relations were established with Turk Ekonomi Bankasi and Denizbank branches2003 17 branches were opened Correspondent banking relation was established with Sekerbank branches Tax collection authority was granted by the Ministry of Finance Nationwide facility for credit card payment and money transfers by Asya Finans customers through on line PTT branches was initiated Bank Asya became a member of VISA on October 242004 Alo Asya 444 4 888 Telephone Banking was put into operation on January 1 and March 17 for retail and corporate customers respectively 19 branches were opened The organizational structure of the Head Office was changed and operations began being carried out by 24 units2005 The company name which had been previously Asya Finans Kurumu A S was changed into Asya Katilim Bankasi A S Membership agreement was signed with MasterCard on May 18 Bank Asya launched chip credit card activities Bank Asya became registered in the presence of Trade Register Office of Istanbul on December 20 Paid up capital has increased from TL 120 million to TL 240 million 11 branches were opened2006 On May 12 Bank Asya shares began trading at the Istanbul Stock Exchange ISE with the code of ASYAB Paid up capital has increased from TL 60 million to TL 3002007 26 new branches were opened Bank Asya branches have increased to 118 New Head Office building in Umraniye commenced service on October 12008 Bank Asya became title sponsor for the First League of Turkish Football Federation AsyaCard DIT the most extensive off line credit card of Europe and AsyaPratik DIT the first pre paid bank card of Turkey were brought into use The first transportation project with which AsyaCard can be used has been put into service and AsyaCard began to be used for transportation in Kahramanmaras Paid up capital has increased to TL 900 million Number of branches has increased to 1492009 Bank Asya was displayed as the bank having the most effective performance in the Top 1000 World Banks list of financial magazine The Banker The first contactless prepaid bank card of Turkey DIT Pratik ranked first in 2009 category A strategic cooperation agreement was signed between Bank Asya and ICD one of the corporations of Islamic Development Bank IDB and Bank Asya went in a partnership with Senegal based Tamweel Africa Holding SA Assets reached TL 11 6 billion increasing 43 compared to the same period of the last year Reaching 22 2 profit rate Bank Asya has become the most profitable interest free bank of Turkey for last three years Number of branches has increased to 158 5 2010 Second Murabaha syndication 250 million USD Bank Asya ranked 403 in The Banker s Top 500 Banking Brands listing the leading names2011 300 million USD murabaha syndicationRatings editMoody s edit Moody s Ratings Moody s 2010Long term FC Deposit Ba3Short term FC Deposit B1Long term LC Deposit Ba2Short term LC Deposit Ba1 6 Fitch edit Fitch Ratings Fitch 2010Long Term Foreign Currency B Long Term Local Currency B Short Term Foreign Currency BShort Term Local Currency BNational Long Term A tur 6 Former subsidiaries editIsik Sigorta edit 65 42 ownership non life insurance company with 183 million TL in assets TUNA REIT Real Estate Investment Trust edit Established in 2009 7 Development of residential and saleable real estate and generation of rental revenue from its own real estate portfolio STRATEGY IPO in 3 yearsTAMWEEL Africa Holding edit Bank Asya and ICD Islamic Corporation for the Development of the Private Sector a subsidiary of the Islamic Development Bank jointly carry out interest free banking activities in West Africa Bank Asya owns a 40 stake and ICD 60 in Senegal based Tamweel Africa Holding SA Tamweel Africa Holding SA owns 4 banks in Niger Senegal Guinea and Mauritania Plans for opening 2 new banks in Benin and Mali Partnership could expand up to 22 countries in AfricaReferences edit Bank Asya Asya Katilim Bankasi A S Archived from the original on 2012 01 15 Retrieved 2011 06 15 Benjamin Harvey 23 December 2013 Erdogan Retaliation Seen Hurting Gulen Companies Istanbul Mover Bloomberg News Retrieved 19 January 2014 Helen Rose Fuchs Ebaugh 1 December 2009 The Gulen Movement A Sociological Analysis of a Civic Movement Rooted in Moderate Islam Springer p 109 ISBN 978 1 4020 9894 9 Bank Asya nin faaliyet izni kaldirildi in Turkish CNN Turk Retrieved 24 July 2016 Bank Asya Asya Katilim Bankasi A S Archived from the original on 2012 02 11 Retrieved 2011 06 15 a b Bank Asya Asya Katilim Bankasi A S Archived from the original on 2012 03 25 Retrieved 2011 06 15 Asya Katilim Bankasi AS Bank Asya Investor relations Board of DirectorsExternal links editOfficial website nbsp Banks portal Retrieved from https en wikipedia org w index php title Bank Asya amp oldid 1173335371, wikipedia, wiki, book, books, library,
