JPMorgan Chase & Co.'s securities unit in Turkey said it plans to cease operating in the country. JPMorgan Menkul Degerler AS will halt its capital market activities and lose its status as an intermediary, pending approval of its application by the Capital Markets Board, according to an exchange filing. The group did not state a reason for the decision.
The announcement comes at a turbulent time for Turkey's market. The Borsa Istanbul 100 Index has fallen more than 15% since mid-September as the market grapples with a fund scandal that has left half a million people's investments frozen and wiped some $100 billion off the market value of Turkish stocks.
JPMorgan's Turkish brokerage had 67 million liras ($1.4 million) of assets as of end-2025, according to a regulatory filing. It posted an operating loss of about 7 million liras over the same period.
By contrast, a local Barclays unit obtained approval in February to operate a brokerage business, highlighting the divergent paths foreign banks are taking in the Turkish market.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing