Emirates NBD in discussions to acquire HSBC Türkiye arm – report

Emirates NBD is in negotiations to acquire HSBC's business in Türkiye, reported Bloomberg citing sources.

The deliberations remain preliminary and there is no certainty they will lead to an agreement, the sources said.

"We do not comment on market speculation," an HSBC spokesperson said.

A spokesperson for Emirates NBD declined to comment.

Emirates NBD, based in Dubai, already controls Denizbank in Türkiye after buying it from Russia's Sberbank in 2019.

The bank has been seeking to increase its presence in the Turkish market, the people said, especially following management changes in the country that resulted in the appointment of a new chief executive officer in 2024.

HSBC, for its part, has been concentrating on its main lines of business since Georges Elhedery became chief executive in 2024.

Previously one of Türkiye's biggest banks, HSBC has reduced its footprint in the country over the past several years.

Data from the Banks Association of Turkey show it is now the country's 15th-largest lender by assets, accounting for 0.3% of total loans. Its branch network had contracted to about 36 by March 2026, compared with 315 in 2013.

The bank had also explored a sale of its

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/emirates-nbd-discussions-acquire-hsbc-114657459.html)