CHP’s İşbank shares to be transferred to Treasury sooner or later: Erdoğan
The opposition party does not take any share of profits from İşbank, but has four seats on its administrative board.
“They [the CHP] say they do not receive any money from the bank. You have four people on the board of the bank. It is not clear what those board members are doing there. The CHP’s shares in the bank will be transferred to the Treasury sooner or later,” Erdoğan said on Feb. 11 during a speech he delivered in the capital Ankara.
Shares in İş Bank dropped shortly after the president’s comments regarding the shares transfer to the Treasury but later recovered on Feb. 11. The bank’s shares were trading 1.3 percent higher as of 4:30 pm local time on Feb. 11.
İş Bank reported on Feb. 8 that its net income increased by 9.2 percent to hit 6.8 billion Turkish Liras ($1.3 billion) last year.