HSBC Bank A.Ş., the Turkey subsidiary of the HSBC Group, is a bank with its head office in Istanbul.

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 owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...

of Midland Bank 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 Demirba ...

'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 is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...

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 HSBC Group and therefore reports to

HSBC Bank plc HSBC UK Bank plc is a British multinational banking and financial services organisation based in Birmingham, England. It is part of HSBC Holdings. HSBC UK Bank plc is one of the four major clearing banks in the United Kingdom and is a wholly ...

Bombing

On 20 November 2003, HSBC's headquarters on the

Büyükdere Avenue Büyükdere Avenue ( tr, Büyükdere Caddesi) 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 Şi ...

in Levent neighborhood of Şişli, Istanbul 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, Istanbul 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 until the end of 2017. As of 1 December 2017, Friday, HSBC Bank TRNC Operations were transferred to ALBANK.

References

External links

* Turkey Banks of Turkey Companies listed on the Istanbul Stock Exchange Banks established in 1990 Investment banks Primary dealers Holding companies of Turkey {{Turkey-company-stub