HSBC planning withdrawal from Turkey after 30 years: reports

HSBC planning withdrawal from Turkey after 30 years: reports

Global banking giant HSBC is considering withdrawing from Turkey after 30 years as part of a wider programme of cost-cutting in underperforming markets, according to reports this morning. According to Reuters, the British-based bank is considering exiting Turkey if it can secure a local buyer for its operations in the country. The proposed closure would form part of interim chief executive Noel Quinn's strategy of refocusing the bank on its profitable Asian markets, particularly China.  ...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.