HSBC to retain business in Turkey despite downsizing rumors

Istanbul, Feb 22 () -  Europe’s leading bank HSBC, based in the U.K., announced its decision to continue operations in Turkey. The HSBC officials have said in June 2015 that the bank could halt operations in Brazil and Turkey due to global downsizing plans.

"We have therefore decided to retain and restructure our Turkish operations, maintaining our wholesale banking business and refocusing our retail banking network" HSBC CEO Suart Gulliver said.

Offers were deemed not to be in the best interest of shareholders, according to Gulliver’s statement.

The HSBC with 298 branches and more than 5 thousand employees has been operation in Turkey since 1990.

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