A U.S. federal judge on Wednesday ordered the dismissal of a long-running case against Halkbank over alleged Iran sanction violations after the Turkish public lender completed a compliance review.
The bank's shares on the Borsa Istanbul Stok Exchange (BIST) rose as much as 8.4% after U.S. District Judge Richard Berman signed a "nolle prosequi" order requested by U.S. Attorney Jay Clayton seeking to drop the case.
"The criminal case against our bank ongoing in the United States for years has been definitively and conclusively closed," Halkbank said in a statement.
Halkbank CEO Recep Süleyman Özdil said the lender expected its opportunities to access foreign funding would improve.
The dismissal promised to relieve one of the main irritants between Türkiye and the U.S., as the NATO allies experience their best ties in decades.
