Having entered the Turkish market in 1990 as Midland Bank Inc., the first British Bank in the country, it established its presence by building on the pillars of strength and prowess of the HSBC Group. On this foundation, and with its thorough knowledge and broad understanding of the local economy and markets and specialization in corporate banking and capital market activities, it prospered.
In 1997, Retail Financial Services, whose operations had already included corporate banking and capital markets, was launched, offering an extensive range of products. Thereafter, Demirbank T.A.S., Turkey's fifth largest private bank, was acquired in 2001. The acquisition extended HSBC's local network of branches and delivery channels as well as its customer base in retail banking and corporate banking client portfolios.
The following year, HSBC Bank A.S. acquired Benkar Tuketici Finansmani ve Kart Hizmetleri A.S., one of the country's top providers of consumer finance, from Boyner Holding A.S. The acquisition included the Advantage Card, the largest card organization in Turkey, outside the banking sector. In 2004, HSBC Portfolio Management A.S. began operations, and two pension funds were created following an agreement with Anadolu Hayat Emeklilik A.S. SME Banking business line was established in 2005.
HSBC Bank A.S.’ retail banking services include ATM and credit cards, deposit services, consumer loans, payment and collection services, HSBC Premier service, private banking services, insurance and pension packages as well as mutual funds.
The bank offers its customers in corporate and investment banking areas a wide range of services that include loans, deposits, foreign trade financing and structured financial products, syndicate loans, swapping and safe-keeping services, corporate financial services, and cash and risk management services. In the SME banking area, HSBC renders cash, non-cash loans, deposit and investment products, issues commercial credit cards and offers cash management services. Additionally, corporate and management banking services are complete with domestic and international factoring services and insurance packages.
HSBC Bank AS also offers its customers spot and forward exchange services, stock exchange services, derivative assets trading intermediary services along with treasury and capital markets products and services covering financial services in monetary markets.
The bank has offered its services and products through its 335 branches established in Turkey and the Turkish Republic of Northern Cyprus, as well as express banking channels, phone banking, internet banking and ATM banking. As of 2010, approximately 6,800 employees work at HSBC.
The bank is committed to its investment in Turkey, whose economy will soon grow to be one of the world's largest. The positive potential of the EU adaptation process and political stability will determine the future of business in Turkey. The increasing amount of FDI attracted during the last few years is an indicator of this potential.