Bloomberg News

HSBC Seeks to Buy Bank in Turkey to Speed Growth, Hurriyet Says

February 27, 2012

HSBC Holdings Plc (HSBA), Europe’s biggest bank, is seeking to acquire a bank in Turkey, Hurriyet reported, citing Martin Spurling, the bank’s chief executive for Turkish operations.

The bank needs acquisitions among medium-sized lenders to generate faster growth in Turkey, Spurling said, according to the newspaper.

HSBC plans to add 30 new branches this year to its 333- branch network.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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