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Turkey's Halkbank shares jump after U.S. prosecutor in sanctions case steps down

Published 06/22/2020, 04:36 AM
Updated 06/22/2020, 04:40 AM
© Reuters. People walk past by a branch of Halkbank in central Istanbul

ANKARA (Reuters) - Shares in Turkish state lender Halkbank (IS:HALKB) surged 8% on Monday after U.S. federal chief prosecutor Geoffrey Berman, who oversaw a court case against the bank, stepped down over the weekend.

U.S. prosecutors allege that from 2012 to 2016, Halkbank and its executives used money servicers and front companies in Iran, Turkey and the United Arab Emirates to evade U.S. sanctions on Iran.

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