Deals
Erdogan Ignites Effort to Take Over Turkey's Largest Listed Bank
- As election campaign heats up, Erdogan renews Isbank call
- Isbank is 28 percent held by the main opposition CHP party
People stand outside a branch of Turkiye Is Bankasi AS, also known as Isbank, in the financial district of Istanbul.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
Turkish President Recep Tayyip Erdogan escalated his campaign to seize the nation’s largest listed lender, Turkiye Is Bankasi A.S., calling for a parliamentary vote on the takeover.
Shares of the lender, which is part owned by the main opposition party, tumbled after Erdogan told lawmakers from his ruling AK party in Ankara on Tuesday that “Isbank will become the property of the Treasury, with the permission of God.”