HSBC Considers Options for Turkish Retail and Corporate Banking Arm
HSBC's Strategic Review and Market Presence
Overview of the Turkish Business Review
LONDON, July 7 (Reuters) - HSBC said on Tuesday it had launched a review of its Turkish retail and corporate banking business and was considering all options, as part of its global drive to simplify its business and exit markets where it considers itself too small.
Scope of the Review
The review does not include wholesale banking activities such as investment banking, the British lender said.
HSBC's Global Strategy
Asia-focused HSBC has been exiting markets where it is sub-scale or less-profitable, following a strategic review launched by CEO Georges Elhedery in October 2024 to shrink the bank's geographical footprint.
Recent Market Exits
In recent years it has sold its retail banking operations in countries including Sri Lanka and France and is reviewing its presence in Egypt, among other places.
Future Plans for HSBC Türkiye
Statement from HSBC
"The review will consider all options for the retail banking business of HSBC Bank A.Ş. (‘HSBC Türkiye’) and its portfolio of smaller and medium-sized companies with primarily domestic banking requirements. No decisions have yet been made," HSBC said in a statement.
Strategic Focus
"The bank's strategy is to increase leadership and market share in the areas where it has a clear competitive advantage and where it has the greatest opportunity to grow and support its clients."
Reporting Credits
(Reporting by Lawrence White and Tommy Reggiori Wilkes, Editing by Iain Withers)
