June 22, 2020 / 8:40 AM / in 2 months

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

FILE PHOTO: People walk past by a branch of Halkbank in central Istanbul, Turkey, January 22, 2020. REUTERS/Murad Sezer

ANKARA (Reuters) - Shares in Turkish state lender Halkbank (HALKB.IS) 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.

Reporting by Ece Toksabay; Editing by Dominic Evans

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