Thursday, February 21, 2008

Key events in the growth of HSBC Turkey
1990
HSBC becomes the first British bank to enter the Turkish market. The Bank is established in Istanbul as Midland Bank Inc. with 100% foreign capital.
1997
HSBC launches Personal Financial Services with an extensive product range in addition to corporate banking and capital markets.
1999
The name of the Bank is changed from Midland Bank Inc. to HSBC Bank A.S.
2001
HSBC Bank A.S. acquires Demirbank T.A.S., Turkey's fifth largest private bank. The acquisition extends HSBC's local network of branches and delivery channels as well as its customer base in personal banking and client portfolio in corporate banking.
2002
HSBC Bank A.S. acquires Benkar Tuketici Finansmani ve Kart Hizmetleri A.S., one of the country's top providers of consumer finance, from Boyner Holding A.S. The acquisition includes the Advantage Card, the largest card organisation in Turkey outside the banking sector.
2003
After purchasing Advantage Card, instalment and cash point features are added to all HSBC credit cards.
2004
HSBC Portfolio Management A.Ş., which was founded on 13.08.2003, starts operating on 06.02.2004.
2005
HSBC Portfolio Management manages 8 types of mutual funds, which are 3 A–type and 5 B–type, since the end of 2005.

Moreover, 2 pension funds are managed following the agreement with Anadolu Hayat Emeklilik A.Ş.

During the same year, SME Banking has been established.
2006
HSBC Bank A.Ş. has announced its goal of 100% organic growth based on investments in Turkey till 2010. Opening 200 branches and gaining 4000 new employees are part of this growth plan.

In addition, the first Private Banking branch opened at Mayadrom on August 11, 2006
2007
HSBC Portfolio Management has been managing 9 types of mutual funds, which are two A Types, five B Types and two Asset Management Service Funds, since May 2007.

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