Bank Asya Slumps as Turkish Airlines Drops It Amid Gulen Dispute

Asya Katilim Bankasi AS, the Istanbul-based lender caught in a feud between the government and an Islamic movement, fell to its lowest in more than three weeks as Turkish Airlines said it was no longer using the bank.

Turkish Airlines Chairman Hamdi Topcu, who heads Europe’s second-biggest airline, said that his company has entirely ceased banking with the Islamic lender. Bank Asya’s shares declined 4.1 percent at 12:24 p.m. in Istanbul, the biggest drop since Feb. 12. Topcu didn’t say where the airline, known in Turkish by its initials THY, had transferred its deposits.