Demirbank
Demirbank T.A.Ş. is a bank purchased on October 30, 2001, by HSBC from the Turkish Banking Regulator for £248 million. The purchase did not include the non-Turkish subsidiaries of Demirbank, e.g. Demirbank Romania, Demirbank Azerbaijan or Demirbank Bulgaria.
Demirbank was merged with the bank's existing subsidiary in Turkey, HSBC Bank A.Ş. on December 14, 2001, creating a combined business with a balance sheet of £1.4 billion and capital of £170 million. The combined business operates through a multichannel delivery system including the Internet, automated teller machines ("ATMs") and call centers under the HSBC name. It has a network of 168 branches and offices in thirty-eight cities providing a comprehensive range of personal, corporate, treasury, capital markets, stockbroking, fund management and investment banking services across the Turkish market.