HSBC’s auction of its Turkish operations has attracted bids from Arab Banking Corp and BNP Paribas of France, among others, The Heraldreported. Sources cited in the brief report said Netherlands-based ING Groep has also tabled an offer for the UK-listed bank’s Turkish business, which includes retail, corporate and investment banking services.
The bids received are believed to have been non-binding so it may be some while until the auction ends, the report said. It added that one-to-one negotiations have started.
One person cited in the report said the unit had also attracted interest from Qatar National Bank, although QNB has yet to submit an offer.