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Demirbank T.A.Ş. is a bank purchased on October 30, 2001 by HSBC from the Turkish Banking Regulator for £248 million.
Demirbank was merged with the bank’s existing subsidiary in Turkey, HSBC Bank A.Ş. on December 14, 2001, creating a combined business with a balance sheet of £1.4 billion and capital of £170 million. The combined business operates through a multi-channel delivery system including the Internet, automated teller machines ("ATMs") and call centers under the HSBC name. It has a network of 168 branches and offices in thirty eight cities providing a comprehensive range of personal, corporate, treasury, capital markets, stockbroking, fund management and investment banking services across the Turkish market.
