HSBC reportedly looking to sell Turkish ops to Bahraini lender

12th Jun 2015 08:39

HSBC is reportedly in talks to sell its Turkish operations to Bahrain's Arab Banking Corporation as it accelerates a restructuring that could have significant implications for the bank.According to Sky News, ABC has emerged as a leading contender to buy the nearly 300 branches which comprise HSBC's business in Turkey.People familiar with the matter told Sky that a deal with ABC may still not be concluded, with reports suggesting there was also interest in the business from other international banks including BNP Paribas, BBVA and ING.It was unclear whether ABC had been granted formal exclusivity or what price it was willing to pay HSBC for the division, said Sky.