HSBC Bank (Turkey)

Infobox_Company
company_name = HSBC Bank A.Ş.
company_
company_type = Subsidiary of HSBC Holdings plc
company_slogan = Turkish: Dünyanın yerel bankası
foundation = 1990
location = Istanbul, Turkey
key_people = David Hodgkinson, Chairman
num_employees = 6,050
industry = Finance and Insurance
products = Financial Services
homepage = [http://www.hsbc.com.tr/ www.hsbc.com.tr]
revenue =

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 the subsidiary of Midland Bank and 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.

Turkish banking

Under the HSBC brand the bank maintains a network of around 242 branches nationwide 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.

Bombing

On the 20 November 2003, HSBC's Headquarters in the Levent district of 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. operates three branches in the so-called Turkish Republic of Northern Cyprus.

ee also

*HSBC Holdings plc
*HSBC Bank plc
*2003 Istanbul Bombings

External links

* [http://www.hsbc.com.tr/ HSBC Bank Turkey]