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HSBC rules out rumors about exiting the Turkish market

HSBC Turkey CEO explained why the global lender decided to stay in Turkey

HSBC rules out rumors about exiting the Turkish market
05 10 2016, 15:59

HSBC is not planning to leave the Turkish market, the major international lender’s Turkey CEO has said.

“HSBC has exited 17 to 18 countries and territories. In some countries, [HSBC] no longer provides private banking services. In Turkey, we have been through a restructuring process. We have absolutely no intention of selling the bank or moving out of the country,” Selim Kervanci told Anadolu Agency.

“We were one of the first foreign banks to enter the Turkish market. We decided to continue with a new strategy. This involves focusing on areas we are good at. And we are very good at wholesale banking. In retail banking, we will continue to focus on premium customers,” he said. 

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