Halkbank shares slump as much as 16 percent after executive's arrest

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A customer uses an automated teller machine at a branch of Halkbank in Istanbul August 15, 2014. REUTERS/Osman Orsal (Copyright Reuters 2017)

Shares in Turkey's Halkbank tumbled as much as 16 percent on Wednesday, after U.S. prosecutors charged one of its senior executives with participating in a multi-year scheme to violate U.S. sanctions against Iran.

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At 0716 GMT, Halkbank shares were 11.28 percent lower. Istanbul's banking index was down 2.22 percent and the main index <.XU100> was 0.98 percent lower.

(Writing by Daren Butler; Writing by David Dolan)