Image default
Greek News

HSBC considering exit from Turkey

HSBC (HSBA.L) is considering selling its Turkey business amid concerns about the country’s volatile currency and economic outlook, sources familiar with the matter said.

As part of broader cost-cutting measures under interim Chief Executive Noel Quinn, the bank is also seeking to sell or shrink its business in some other markets, the sources said.

These include countries where it has small-scale operations that struggle to compete with local players, including Armenia, Greece and Oman, they said.

A spokeswoman for HSBC declined to comment.

HSBC will seek to sell its banking business in Turkey if it can find a local buyer, the sources said, adding that no final decision has yet been taken.

Read more: -

Σχετικα αρθρα

European Commission welcomes lifting of capital controls by Greek government

admin

EU order for Apple to pay €13bn tax bill to Ireland “defies reality and common sense”

admin

Watch PM Mitsotakis’s interview on Bloomberg TV (video)

admin

The government guarantees EUR 9 billion through a pillow for the banks

admin

Greek Tourism: Favorable sector for Chinese investments

admin

Bernie Sanders possibly running against President Trump is starting to scare investors

admin

Brent jumps $3 after US kills Iran’s Soleimani

admin

10Y Greek bond raises 1.5 billion euros

admin

The Billion-Dollar Content Race (infographic)

admin

European Commission issues positive report on Greece

admin

Where Netflix’s growth comes from (infographic)

admin

Greece generates nearly half of its electricity from coal (infographic)

admin

Precision farming “saved” extra virgin olive oil, Greek producers say

admin

Cathay Pacific lost 20 percent of value in 6 months (infographic)

admin

Athens expects positive post-bailout economic review

admin

Wall Street Journal editorial: “A Greek Economic Revival”

admin

iPhone XR sold 46.3 million units in 2019

admin

Old vehicle owners to be burdened with higher registration fees from 2021

admin