HSBC Bank A.Ş., the

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

subsidiary of the

HSBC Group 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 tr ...

, is a bank with its head office in

Istanbul ) , postal_code_type = Postal code , postal_code = 34000 to 34990 , area_code = +90 212 (European side) +90 216 (Asian side) , registration_plate = 34 , blank_name_sec2 = GeoTLD , blank_i ...

History

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

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

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 s ...

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, Şiş ...

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. Reco ...

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