Selim Kervanci, head of global banking at the unit, said: "We have been mandated by a foreign bank on a new partnership within the Turkish banking sector." (source)
"Foreign interest in banking continues... consolidation is inevitable. The business is turning into a volume business."
Market speculation as to who the Turkish bank might be fuelled gains in smaller lenders, while some suggested the foreign acquiring bank may even be HSBC itself.
"Market chatter is that HSBC will buy Bank Asya. HSBC said it was mandated to advise on a Turkish bank acquisition...but where there's smoke, there is fire," said one trader.
One analyst suggested a foreign non-interest paying bank may be interested in Bank Asya. Bank Asya declined to comment, a move interpreted by the market as signalling something was afoot, traders said.
HSBC Turkey said it had also been mandated to find a partner for Turkish insurer Isik Sigorta, a unit of Bank Asya, Kervanci said.
Source : http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=301502 - March 10, 2011
