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HSBC to sell Turkish unit to ING

ISTANBUL, July 22, 2015

HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700-$750 million in the next few days, two people familiar with the matter told Reuters on Wednesday.

ING, which already has a presence in Turkey, was one of three banks to submit a non-binding bid in May, sources previously told Reuters. The others were Bahrain's Arab Banking Corp (ABC) and France's BNP Paribas.

HSBC declined to comment.  - Reuters




Tags: HSBC | Turkey | ING |

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