Bank Asya was established on October 24, 1996, with its head office in Istanbul, as the sixth private finance house of Turkey.

The opening ceremony was held with an official ceremony and was attended by then Deputy Prime Minister Tansu Çiller, State Minister Abdullah Gül, Istanbul Metropolitan Mayor Recep Tayyip Erdoğan, and İhsan Kalkavan, Chairman of the Board of Directors of Asya Finans.

5411 (the Law), it has been decided to transfer the Bank's shareholding rights, excluding dividends, and the management and supervision of the Bank to the Savings Deposit Insurance Fund in accordance with the provision of subparagraph (b) of the first paragraph of Article 71 of the Law for the purpose of partial or complete transfer, sale or merger, provided that the loss is deducted from the capital of the existing shareholders (it is revealed that the continuation of its activities poses a danger to the rights of deposit and participation fund holders and the confidence and stability of the financial system)."

- On 16 November 2017, with the decision of Istanbul 1st Commercial Court of First Instance dated 16.11.2017 and numbered 2017/41 E., Bank Asya was declared bankrupt.

After the coup attempt on July 15, 2016, Gulen movement was accused of coup plotting and declared as a terrorist organization by Erdoğan regime, and then the criterion of being a partner, employee, and customer of Bank Asya was accepted as an important factor for the membership of the organization by politicians of the government and members of the judiciary.