SBC may receive Qatari and Chinese interest for Turkish operations - report (translated)
HSBC's planned sale of its Turkish private banking operations may attract Qatari and Chinese interest, Turkish-language Dunya reported.
The article noted, based on unidentified sources, that HSBC is considering divesting operations in four countries including Turkey, where its profits are low. The company would still like to remain in Turkey in the corporate and commercial banking segments, but may face problems in selling the personal banking operations, the report said.
The existing players in the market may be unwilling to add too many branches at the same time, and given the current market conditions in Turkey, international investors may be reluctant to buy a bank with many branches and seek rather to obtain a license or buy a smaller bank if they want to enter the Turkish market, the item noted.
However, the sale may attract Chinese and Qatari interest, the report added.
HSBC had TRY 55.9m in losses in 2014 and TRY 33.8bn (USD 12.63bn) in assets by the end of the year. The bank had 291 branches as of end of March 2015 with 5,536 employees.
Link to original source : {http://www.dunya.com/finans/bankacilik/hsbc-bireyselden-cikmak-istiyor-260946h.htm}
Dunya