Turkey's Halkbank shares fall after U.S. Supreme Court rejects appeal

Turkiye Halk Bankasi

06/10/2025 15:06

Oct 6 (Reuters) - Shares in Turkey's state-controlled Halkbank HALKB.IS tumbled as much as 8.5% on Monday after the U.S. Supreme Court declined to hear its latest appeal over charges it helped Iran evade U.S. sanctions.

In May, Halkbank asked the top court to throw out a lower court ruling saying it could be prosecuted on criminal charges.

The Supreme Court on Monday turned away this attempt, allowing a lower court's ruling - which permits the criminal case brought by U.S. federal prosecutors in 2019 to proceed.

Halkbank has pleaded not guilty and the case has strained U.S.-Turkish ties.

The stock drop weighed on Istanbul's main banking share index .XBANK, which fell 1.7%.

 (Reporting by Canan Sevgili; Editing by Jonathan Spicer)

 ((canan.sevgili@thomsonreuters.com;))