HSBC Bank

[TB10pilot]

Good morning All, Did I dream it or hear bad gossip? Is HSBC (Northern Cyprus) closing down due to the bank being for sale here and in Turkey. Does anyone know anything about this?

[mrsgee]

We were told several months ago by our Garanti Bank Manager that they were closing down. If you google it you will find more information, I found Reuters informative. They are looking to sell the Turkish operation (Banking Licence). I think that they are not happy with the way it is performing, losses, etc., so looking to sell to another bank. Also looking to pull out of Brazil.

[Dalartokat]

This article has been written in Daily Sabah this morning.....


http://www.dailysabah.com/finance/2015/ ... operations

http://www.dailysabah.com/finance/2015/ ... urkey-unit

[waddo]

Credit West will be laughing all the way to the.........???

[johnny1]

why will credit west be laughing...?

[waddo]

http://www.lgcnews.com/hsbc-closing-down-in-trnc/ So now where all the people who bank with HSBC go - maybe but it all under the bed or in the sock or the tin in the garden? Maybe, just maybe they will pick another bank to bank with? So which bank - if you currently bank with HSBC - will you move your money to? Of course if you don't bank with HSBC the question is moot and requires no answer at all - but there are only so many banks to choose from if you do bank with HSBC.

All the other banks will know that HSBC customers will have to bank elsewhere so they can laugh about it knowing they won't have to work hard for trade that will come through their doors anyway.

[mrsgee]

Hsbc have been absolute rubbish over here in my opinion, for years. They are not the main bank I use, but have just been a convenience, linked to the UK operation. They will not be missed by me.

[sophie]

Can Administrations combine these two HSBC threads? Saves having to read them both.

[kedikat2903]

So does this mean we have to go to the bank and close our accounts? Does anyone know?

[karmels]

I have contacted Bilge with reference to this subject as we are in Turkey till the middle of September.I quoted the reports in the local press, her reply was,
they have not been informed on the sale of HSBC Turkey as the CEO will be having a meeting on the 9th of this month when we will be informed of their decision at a later date. That is all she could tell me.