History
HSBC Bank A.Ş. was established as Midland Bank A.Ş. in 1990. It was the subsidiary of Midland Bank and was renamed HSBC Bank A.Ş. in 1999. In October 2001, HSBC Bank A.Ş. acquired Demirbank T.A.Ş., the fifth largest private bank in Turkey from the Turkish financial regulator after it was rescued during the financial crisis. Demirbank's wholly owned stockbroking and fund management subsidiary, Demir Yatirim was also acquired and the merger of HSBC Bank A.Ş. and Demirbank was successfully completed in December 2001. Other subsidiaries of HSBC Bank A.Ş. are HSBC Ödeme Sistemleri Bilgisayar Teknolojileri Basın Yayın ve Müşteri Hizmetleri A.Ş., HSBC İnternet ve Telekominikasyon Hizmetleri A.Ş.
Read more about this topic: HSBC Bank (Turkey)
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