Turkey named HSBC ‘priority market’

ISTANBUL

Turkey has been named one of HSBC’s 21 priority markets because of several factors, including a young population, lower public debts and a strong banking sector, among others, James Emmett, the chief of HSBC Turkey, has said.

“We have named Turkey one of our 21 priority markets for investments due to its leading advantages, including its young and growing population, robust economy, strong banking sector, tighter fiscal discipline, growing trade volume and strong investment portfolio, as well as its rich entrepreneurship culture,” he said.

“We believe Turkey will continue to grow in the medium and long-term, offering opportunities to investors,” he added.

The bank will aim to grow specifically in the corporate and commercial banking sectors, he noted, adding they do not plan to exit from retail banking.

He noted HSBC’s target is to become the largest international bank that operates in Turkey.