Demirbank T.A.Ş. is a bank purchased on October 30, 2001 by HSBC from the Turkish Banking Regulator for £248 million. The purchase did not include the non Turkish subsidiaries of Demirbank, e.g. Demirbank Romania or Demirbank Azerbaijan.
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.
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