Emirates NBD PJSC is in early‑stage talks to acquire HSBC Holdings’ Turkey operations, Bloomberg reports citing unnamed sources. The discussions are private and a transaction is not guaranteed. HSBC declined comment, reiterating its policy of not responding to market speculation. Emirates NBD, the UAE’s second‑largest bank serving roughly 10 million customers, would gain a foothold in a market where HSBC now ranks 15th largest.

Since Georges Elhedery became chief executive in 2024, HSBC has been trimming non‑core assets. In Turkey the bank fell from a top‑five lender to the 15th largest by assets, holding just 0.3% of total loans. Its market share now reflects a strategic pull‑back rather than growth. The pull‑back aligns with a broader global effort to concentrate on wealth management and Asia‑Pacific growth.

For the Dubai‑based Emirates NBD, adding HSBC’s Turkish platform would deepen its MENA reach and give access to roughly 10 million customers the group already serves globally. The bank’s 2019 purchase of a majority stake in Deniz Bank shows willingness to expand through acquisitions. A completed deal would instantly place Emirates NBD among the region’s few foreign‑owned banks with a significant Turkish presence.