HSBC Bank A.Ş.
, the Turkey
subsidiary of the HSBC Group
, is a bank with its head office in Istanbul
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.
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.
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.
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
HSBC Bank A.Ş. operates three branches in the so-called Turkish Republic of Northern Cyprus.