HSBC closing down in TRNC

[WotNoDeeds]

http://www.lgcnews.com/hsbc-closing-down-in-trnc/

[Hedge-fund]

It's as a result of their convictions for money laundering. They've been fined around $2 Billion so far.

They are having to close in regions where they can't satisfy the stringent due diligence requirements.

[cambridge]

No source quoted. So although we all know HSBC is looking to divest itself of non profitable operations until an official announcement is made speculation is all it is.

[Dalartokat]

No source quoted. So although we all know HSBC is looking to divest itself of non profitable operations until an official announcement is made speculation is all it is.

Totally agree, meanwhile..........http://www.telegraph.co.uk/finance/news ... attle.html


Just to say the above is dated 2012 but mentioned just as one of many troubles HSBC finds itself in.

[mrsgee]

I posted on this subject a few months ago....it is not new news....they are having problems and often it is a case of the bigger you are the easier it is to hide those problems......I feel a run coming on with HSBC Turkish operation......

[WotNoDeeds]

Could this be the new owner of HSBC Turkey ? - http://www.icbc.com.cn/ICBC/sy/default.htm


Chinese ICBC Bank ( Industrial and Commercial Bank of China Ltd )


http://www.dailysabah.com/finance/2015/ ... -in-turkey

[TB10pilot]

My sources tell me they are interested.

[WotNoDeeds]

HSBC Turkey Public Announcement

HSBC confirms that it intends to sell its operations in Turkey. HSBC will make a further statement when appropriate.
HSBC Turkey CEO, James Emmett stated that “Our clients and employees remain our top priorities. During the time being, we will continue to serve our customers on a business as usual basis.”

http://www.hsbc.com.tr/tr/haberler/habe ... ewsId=1006


Well that's alright then everybody put your money back.... to little to late.


Financial papers in London this morning (10/06/2015) have said job cuts at HSBC Globally will be in the region of 50,000, 25.000 will go in Turkey and Brazil alone very different to the original 25.000 of losses that was originally said.

Time will tell.

[Groucho]

Could this be the new owner of HSBC Turkey ? - http://www.icbc.com.cn/ICBC/sy/default.htm


Chinese ICBC Bank ( Industrial and Commercial Bank of China Ltd )


http://www.dailysabah.com/finance/2015/ ... -in-turkey

Well Hong Kong and Shanghai Banking Corporation would seem a good fit for a Chinese Bank....

[jacob]

Is it necessary to have a bank account if you are not a full resident?

[Keithcaley]

I don't think that it's necessary to have a Bank account at all!

- Well, not a TRNC one, anyway.

You can use your UK cards here, there are some ATM's (such as HSBC ) that let you draw Sterling without any surcharge, so as long as your UK Bank doesn't charge you, then you can get Sterling and convert it to TL at local rates.

Everyone loves cash...

[Owl Lady]

For residency, I thought you had to show details of a bank account? Showing you had an income sufficient to support yourself!

[Keithcaley]

Owl Lady,

They're perfectly happy with a UK Bank Statement - as long as you've got money, they don't really seem to care where it is.

My UK Bank is actually 'online' - 'Paperless, in other words', so I just do a print-out from my computer, and they accept it...