HSBC Bank A.Ş., the

Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a list of transcontinental countries, transcontinental country located mainly on the Anatolia, Anatolian Peninsula in Western Asia, with ...

subsidiary of the

HSBC Group HSBC Holdings plc is a British multinational corporation, 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 ...

, is a bank with its head office in

Istanbul Istanbul ( , ; tr, İstanbul ), formerly known as Constantinople ( grc-gre, Κωνσταντινούπολις; la, Constantinopolis), is the List of largest cities and towns in Turkey, largest city in Turkey, serving as the country's economic, ...

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 ...

Midland Bank Midland Bank Plc was one of the 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, Birmingham, England in August 1836. It ...

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 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

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 ...

Levent Levent is a neighbourhood and one of the main business districts of Istanbul, Turkey, located on the European side of the city. It is a part of the municipality of Beşiktaş and is situated to the north of the Golden Horn, at the western sh ...

neighborhood of

Şişli Şişli () is one of the 39 districts of Istanbul, Turkey. Located on the European side of the city, it is bordered by Beşiktaş to the east, Sarıyer to the north, Eyüp and Kağıthane to the west, and Beyoğlu to the south. In 2009, Şi ...

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 ( tr, Kuzey Kıbrıs), officially the Turkish Republic of Northern Cyprus (TRNC; tr, Kuzey Kıbrıs Türk Cumhuriyeti, ''KKTC''), is a ''de facto'' state that comprises the northeastern portion of the island of Cyprus. Recog ...

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

References

External links

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