HSBC has launched a strategic review of its Turkish retail and small and medium-sized enterprise (SME) banking operations, with a potential sale being one of the options considered. This move is part of a broader global strategy initiated by CEO Georges Elhedery in October 2024, aimed at streamlining the bank’s international presence by exiting markets that are either less profitable or lack sufficient scale.
The review specifically excludes HSBC’s wholesale banking activities in Turkey. This aligns with similar strategic decisions made by the bank, including the divestment of its retail banking operations in Sri Lanka and France. HSBC is also currently reviewing its operations in Egypt.
HSBC has emphasized that no final decisions have been made regarding the Turkish business. The bank maintains its commitment to strengthening its leadership and market share in regions where it holds a competitive advantage and sees significant growth potential.
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