Bank Asya: Battle for survival against a presidential onslaught

From 2008 to 2013, Bank Asya's assets and net revenue grew annually at 28 percent and 12 percent, respectively. Its reputation and business were soaring when, in December 2013 and without prior warning, President Erdo?an launched a powerful and concentrated attack on the bank, alleging that it was weak and insolvent. Despite losing almost half its market value during one excruciating week in September 2014 and reporting its first ever quarterly loss in 18 years of TL 301 million, Bank Asya has responded by highlighting its capital adequacy ratio of 18.3 percent. Ultimately, the solution to Bank Asya's current predicament ideally lies with President Erdo?an withdrawing his unfounded allegations.