When HSBC decided to review its loss-making Turkish operation earlier this year, it sparked a flurry of interest among M&A bankers and across the sector.
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Several foreign banks with strong owners have not achieved the growth they were looking for in Turkey
BuIent Sengonul, |
If, as expected, the UK group decides to sell all or part of the business, it could provide a valuable indicator of whether international lenders’ appetite for Turkey has survived rising political and economic uncertainty.
Until recently, it seemed as though nothing could dim the allure of the Turkish banking sector for foreign investors.
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