ANKARA
Dutch ING group is set to acquire HSBC Turkey, banking sources said on Friday.
HSBC Turkey is selling off its corporate, investment banking operations and retail arm in an auction in which the Dutch financial services group is expected to provide the winning bid.
ING already has a presence in Turkey, which it reportedly hopes to expand.
BNP Paribas and Bahrain-based Arab Banking Corp are also reportedly bidding for the operations.
ING, which received state aid from the Netherlands during the financial crisis, exited a prohibition from making acquisitions in June.
