The rumour-mill regarding the future of Demir bank, the owner of one of the Turkish factoring industry’s major players, is continuing to work overtime as a variety of potential buyers are mooted.
Following the crisis which broke in the early part of December 2000 (which saw Demirbank plunged into panic as interest rates ballooned and came to a head when the stricken bank was taken over by the state), the most frequently mentioned would-be buyer has been the UK based international bank, HSBC. However, the most recent rumours (which HSBC have refused so far to comment upon) claim that HSBC has pulled out of negotiations.
The atmosphere of confusion has been compounded by the dearth of official statements on the subject. Other rumours currently in circulation have also suggested KOC Bank (of the KOC Holding Group) and Societe Generale as possible buyers.
