HSBC Bank A.Ş., the

Turkey Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...

subsidiary of the

HSBC Group HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

, is a bank with its head office in

Istanbul Istanbul is the List of largest cities and towns in Turkey, largest city in Turkey, constituting the country's economic, cultural, and historical heart. With Demographics of Istanbul, a population over , it is home to 18% of the Demographics ...

History

HSBC Bank A.Ş. was established as Midland Bank A.Ş. in 1990. It was a

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

Midland Bank Midland Bank plc was one of the Big Four (banks)#United Kingdom, Big Four banking groups in the United Kingdom for most of the 20th century. It is now part of HSBC. The bank was founded as the Birmingham and Midland Bank in Union Street, Birming ...

and was the first British bank in Turkey to be established. Then it was renamed HSBC Bank A.Ş. in 1999. In October 2001, HSBC Bank A.Ş. acquired Demirbank T.A.Ş., the fifth-largest private bank in Turkey from the Turkish financial regulator after it was rescued, during the financial crisis.

Demirbank Demirbank T.A.Ş. is a bank purchased on October 30, 2001, by HSBC from the Turkish Banking Regulator for £248 million. The purchase did not include the non-Turkish subsidiaries of Demirbank, e.g. Demirbank Romania, Demirbank Azerbaijan or Demirb ...

's wholly owned stockbroking and fund management subsidiary, Demir Yatirim was also acquired and the merger of HSBC Bank A.Ş. and

was successfully completed in December 2001. Other subsidiaries of HSBC Bank A.Ş. are HSBC Ödeme Sistemleri Bilgisayar Teknolojileri Basın Yayın ve Müşteri Hizmetleri A.Ş., HSBC İnternet ve Telekominikasyon Hizmetleri A.Ş.

Turkish banking

Under the

HSBC HSBC Holdings plc ( zh, t_hk=滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business li ...

brand the bank maintains a network of around 77 branches nationwide (as of July 2020) and offers a comprehensive range of products and services to corporate, commercial and personal customers. HSBC Turkey is part of the European structure within the

and therefore reports to HSBC Bank plc.

Bombing

On 20 November 2003, HSBC's headquarters on the

Büyükdere Avenue Büyükdere Avenue () is a major avenue which runs through the districts of Şişli (Esentepe quarter), Beşiktaş (Levent quarter) and Sarıyer (Maslak quarter) on the European side of Istanbul, Turkey. It begins at Şişli Mosque and runs in ...

Levent Levent is a neighbourhood in the municipality and district of Beşiktaş, Istanbul Province, Turkey. Its population is 2,911 (2022). It is one of the main business districts of Istanbul located on the European side of the city. It is situated ...

neighborhood of

Şişli Şişli () is a municipality and Districts of Turkey, district of Istanbul Province, Istanbul Province, Turkey. Its area is 10 km2, and its population is 276,528 (2022). Located on the European side of the city, it is bordered by Beşiktaş ...

were severely damaged in one of a series of bombings in Istanbul in 2003. Three members of HSBC staff lost their lives and a total of 43 were injured in the blasts. The bank was fully open for business on the following working day, with a temporary headquarters being established in Esentepe,

and over 3,000 corporate customers informed of the situation on the day of the blast.

Consumer finance

On 8 August 2002, HSBC Bank A.Ş. signed a Sale and Purchase Agreement for the acquisition of Benkar Tuketici Finansmani ve Kart Hizmetleri A.Ş. (Consumer finance and card services) and the Advantage brand from Boyner Holding A.Ş. The purchase of Benkar was completed on 19 September 2002.

Regional operations

HSBC Bank A.Ş. operated 4 branches in the

Turkish Republic of Northern Cyprus Northern Cyprus, officially the Turkish Republic of Northern Cyprus (TRNC), is a '' de facto'' state that comprises the northeastern portion of the island of Cyprus. It is recognised only by Turkey, and its territory is considered by all o ...

until the end of 2017. As of 1 December 2017, Friday, HSBC Bank TRNC Operations were transferred to ALBANK.

References

External links

* {{DEFAULTSORT:Hsbc Bank Turkey

Banks of Turkey Companies listed on the Istanbul Stock Exchange Banks established in 1990 Investment banks Primary dealers Holding companies of Turkey