Demirbank T.A.Ş. is a bank purchased on October 30, 2001 by HSBC

HSBC

HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...

 from the Turkish

Turkey

Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...

 Banking Regulator for £248 million.

Demirbank was merged with the bank’s existing subsidiary in Turkey, HSBC Bank A.Ş.

HSBC Bank (Turkey)

HSBC Bank A.Ş., the Turkey subsidiary of the HSBC Group, is a bank with its head office in Istanbul.-History:HSBC Bank A.Ş. was established as Midland Bank A.Ş. in 1990. It was the subsidiary of Midland Bank and was renamed HSBC Bank A.Ş. in 1999. In October 2001, 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 multi-channel delivery system including the Internet, automated teller machine

Automated teller machine

An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...

s ("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.