Turkey's Bank Asya says closed 80 branches, cuts workforce by 1,708

Bank Asya closed 80 branches and cut its headcount by 1,708 people in a bid to boost profitability next year. Bank Asya has seen its profits and capital base collapse since it found itself at the centre of a power struggle between now President Tayyip Erdogan and his former ally-turned-foe Fethullah Gulen, the Islamic cleric whose sympathisers founded the bank. The bank made a 301 million lira ($133 million) net loss in the first nine months of this year after a 60 million lira profit a year earlier, while its balance sheet has shrunk.