SUCCESS STORIES - HSBC
HSBC Bank A.Ş. serves Turkey with an uncompromising dedication to customer satisfaction, a full range of products and services, and the commitment to make the world’s local bank Turkey’s favorite bank.
Having entered the Turkish market in 1990 as Midland Bank Inc., the first British Bank in this country, it established its presence, building on the pillars of strength and prowess of the HSBC Group. On this foundation, and with a deep knowledge and broad understanding of the local economy and markets and by specializing in corporate banking and capital markets activities, it prospered.
In 1997, Personal Financial Services, whose operations had already included corporate banking and capital markets, was launched, offering an extensive range of products. Thereafter, Demirbank T.A.Ş., 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 a corporate banking client portfolio.
The following year, HSBC Bank A.Ş. acquired Benkar Tuketici Finansmani ve Kart Hizmetleri A.Ş., one of the country’s top providers of consumer finance, from Boyner Holding A.Ş. The acquisition included the Advantage Card, the largest card organization in Turkey, outside the banking sector. In 2004, HSBC Portfolio Management A.Ş. began operations and two pension funds were put into effect following an agreement with Anadolu Hayat Emeklilik A.Ş. SME Banking business line was established in 2005
Today, HSBC Bank operates personal financial services, corporate, commercial and investment banking and treasury and capital markets. More than 5,000 employees work at HSBC, and this number is expected to grow.
Since 2005, investment plans have been put into action, which mainly cover infrastructure needed for growth. In addition to infrastructure, pension and insurance are two markets that the bank has invested in to broaden its sales network.
Sixty four branches and 239 ATMs have been established. Total assets have grown at the rate of 60%, credits at 67% and deposits at 50%. The profit and market share have maintained the same levels. The growth plan includes the establishment of 360 additional branches and more than 1000 new ATMs by the year 2010.
The main motivators behind this investment strategy are the potential for economic growth; the young, dynamic population in Turkey; the growth opportunities in the banking sector, accelerated developments in recent years due to the EU adaptations and successful returns on previous investments since early in the 1990s.
The bank is committed to its investment in Turkey, whose economy will soon grow to be one of the largest. The positive potential of the EU adaptation process and political stability will determine the future of business in Turkey. A total FDI worth of 35 billion USD is an indicator of this potential.
