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Private company

Demirbank

Defunct Turkish bank

Demirbank T.A.Ş. is a bank purchased on October 30, 2001, by HSBC from the Turkish Banking Regulator for £248 million. The purchase did not include the non-Turkish subsidiaries of Demirbank, e.g. Demirbank Romania, Demirbank Azerbaijan or Demirbank Bulgaria. Demirbank was merged with the bank's existing subsidiary in Turkey, 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.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

1953Founded1
  • Industryfinancial services1
  • Founded inİstanbul1

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Demirbank T.A.Ş. is a bank purchased on October 30, 2001, by HSBC from the Turkish Banking Regulator for £248 million. The purchase did not include the non-Turkish subsidiaries of Demirbank, e.g. Demirbank Romania, Demirbank Azerbaijan or Demirbank Bulgaria.2

The story

Background

The number of banks in Turkey increased rapidly between 1926 and 1929, but these were mostly local banks set up by local businessmen, but an increase in the demand for credit in the post World War II era resulted in some merchants and agricultural exporters setting up banks to increase the availability of credit in the Turkish economy. Most banks in the 1940s were state owned banks, but between 1944 and 1960 there was an increase in the number of private commercial banks.

Founding

Demirbank was founded in 1953 with a startup capital of approximately US$714,000 and 79 shareholders, most of whom were iron and steel merchants from Istanbul's Perşembe Pazarı. Out of the 79 shareholders, 33 were from Istanbul's minority groups.

From Wikipedia’s article on Demirbank, shared under CC BY-SA 4.0.3

Timeline

  1. 2001Dissolved Dissolved1
  2. 1953Founded Founded in İstanbul1

Sources

The numbers on this page point here. Each one links to the record it came from.

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