Nonbinding offers from 3 banks for HSBC's Turkey unit

ING, the Bahrain-based Arab Banking Corporation (ABC) and BNP Paribas placed nonbinding offers for the Turkish unit of HSBC, which has been facing problematic operations in four countries including Turkey, Brazil, Mexico and the U.S., according to a news report compiled by Reuters. Having entered the data room, Qatar-based Qatar National Bank did not give an offer.

In a statement delivered late February, HSBC CEO Stuart Gulliver said that the bank had been granted a time of one to two years to resolve ongoing problematic operations in the four countries, after which more severe measures would be taken if necessary. Having entered the Turkish market in 1990, HSBC declared a loss of TL 55.9 million in 2014.

The total assets of the bank dropped to TL 33.8 billion from TL 36.23 billion in 2013. According to the data from the Banks Association of Turkey, the number of HSBC branches declined from 316 in 2014 to 291 in March 2015, while the number of its staff decreased from 5,967 to 5,536 over the same period.