appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Peggy Ye

Turkey’s largest private bank plans to set up a Hong Kong office, according to sources familiar with the matter, in a move that underscores the city’s role as a gateway for lenders seeking to connect China and Asian markets with the Middle East.
Turkiye Is Bankasi’s board approved the Hong Kong expansion plan two months ago and the lender was awaiting clearance from Turkish authorities before formally approaching the Hong Kong Monetary Authority for a banking licence, the sources said.
If approvals proceeded as expected, the bank – Turkey’s biggest private bank by assets under management – hoped to begin operations in the city in about a year. The move, if realised, would mark the first time a Turkish bank established operations in Hong Kong.
“We like Hong Kong’s position as a financial hub, and it’s the centre of Asian business,” the sources said, adding that a branch in Hong Kong would “complete” the bank’s coverage in China.
China was Turkey’s largest trading partner, and the bank already maintained a representative office in Shanghai focused on market research and client support, the sources said.
The bank had begun assessing potential office locations in key business districts, including Central, as part of its early planning, the sources said. It was also speaking with potential partners and market participants as it evaluated how to set up the Hong Kong operation. The office was expected to start relatively small, with about 20 staff focused mainly on corporate banking and trade finance, though plans remained under review.
Analysts said the development came as geopolitical tensions in the Middle East reshaped trade and financial flows, while Hong Kong continued to position itself as a platform for cross-border banking and capital movement between Asia and emerging markets.

Home to about 88 million people, Turkey has one of the largest economies in its region, with banks increasingly looking to expand cross-border financing and trade links.
Representatives from the bank visited Hong Kong earlier this month to meet business groups and assess the market. During a session hosted by the Hong Kong General Chamber of Commerce on March 12, executives discussed potential expansion plans and explored gaps in financial services in the city, according to a chamber announcement.
Participants highlighted a potential shortage of daily trade finance for high-liquidity goods, an area where the Turkish lender could provide specialised services, the chamber said.
Turkiye Is Bankasi did not respond to requests for comment. The chamber declined to comment.
The Turkish lender also emphasised its potential role in facilitating transactions for Hong Kong companies seeking to expand into the Middle East and North Africa region, noting that relatively few banks currently offered strong financial connections between the two markets, the announcement said.
“This development reinforces Hong Kong’s role as a global financial centre and a strategic gateway to mainland China,” said Phyllis Liu, director at S&P Global Ratings.
“In recent years, foreign and international banks have expanded their presence in the city to capture the growing cross-border trade, capital and wealth flows, particularly along the Middle East-Asia corridor,” Liu said. “Even amid geopolitical uncertainties, Hong Kong continues to be viewed as a stable and secure financial hub.”


Bad money decisions are coming home to roost for the US and Japan

Hong Kong sets yuan trading timeline, backing Beijing’s push to boost currency’s use

Hong Kong unveils gold, bond and liquidity plans to drive next phase of yuan adoption

Physical moves by online financial firms unlikely to pump up property market: analysts

Banking & finance

Turkey’s biggest private bank plans Hong Kong entry amid Middle East tensions: sources

The bank is awaiting clearance from Turkish authorities before formally approaching the Hong Kong Monetary Authority for a banking licence, sources said. Photo: Shutterstock

Turkey has one of the largest economies in its region, with banks increasingly looking to expand cross-border financing and trade links. Photo: Shutterstock

Middle East banks eye Hong Kong as ‘safe haven’ amid Iran threats, InvestHK head says

Smoke billows from a fire near Dubai International Airport on March 16, 2026. Photo: AFP

InvestHK director general Alpha Lau Hai-suen, pictured in her office in Admiralty on March 16, 2026. Photo: Enoch Yiu

Passengers enjoy a view of Hong Kong’s Victoria Harbour on the Discovery Bay Ferry on March 7, 2026. Photo: Sun Yeung

China adds 12 banks to digital yuan system, expanding e-CNY’s economic presence

A security guard drinks from a bottle near an ad for e-CNY, or digital yuan, in Beijing on August 31, 2022. Photo: AP



Deutsche Bank bets on Hong Kong wealth boom as Asian billionaires look beyond US assets

Claudio de Sanctis, head of Private Banking at Deutsche Bank. Photo: Sun Yeung

De Sanctis says affluent investors were becoming increasingly uneasy about their heavy exposure to US assets. Photo: Sun Yeung

The new generation of family offices in Asia is ‘becoming more professional’, De Sanctis says. Photo: Sun Yeung

‘Vibrant’ Hong Kong market to attract more listings from abroad, bankers say

Softcare chairman Shen Yanchang (left) and CEO Luo Jichao take part in a listing ceremony at the Hong Kong stock exchange on November 10, 2025. Photo: Yulu Ao

A view of the home of Hong Kong’s bourse operator, Exchange Square, on January 9, 2025. Photo: Jelly Tse

Business

Banking & Finance

Property

Companies

News

Hong Kong

Turkiye Is Bankasi eyes corporate-focused Hong Kong branch, citing the city’s hub role, to complete its China coverage, sources say


Turkiye Is Bankasi eyes corporate-focused Hong Kong branch, citing the city’s hub role, to complete its China coverage, sources say.


.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Turkiye Is Bankasi eyes corporate-focused Hong Kong branch, citing the city’s hub role, to complete its China coverage, sources say

Turkiye Is Bankasi eyes corporate-focused Hong Kong branch, citing the city’s hub role, to complete its China coverage, sources say