JP Morgan expands its banking activities in Türkiye

In the statement made by JP Morgan Menkul Değerler AŞ, it was noted that there was a need to make a statement in order to eliminate the hesitations that may arise in the public within the scope of the previous announcement regarding the application to the Capital Markets Board (CMB) for the cancellation of the company's operating license and to clarify the scope of the process in question.

In the statement, it was stated that no capital market activities have been carried out since July 2015, and no investment services or ancillary services have been provided to customers, and added: "For this reason, the process initiated to cancel the Company's operating license is essentially aimed at harmonizing the current legal status of the Company, which has not had any actual activity for a long time, with this de facto situation, and the decision on the relevant issue was taken as a result of the negotiations held with the CMB in the past years. In this context, the relevant decision has no relevance to the current developments in our country." expressions were used.

"The banking activities carried out by JP Morgan Istanbul Branch in Türkiye are not affected in any way by the said process, and JP Morgan Istanbul Branch will continue its activities in Türkiye in its current form and without interruption. JP Morgan Istanbul Branch has recently decided to expand its banking activities in Türkiye, and the necessary studies in this direction continue in coordination with the relevant legal authorities.

Therefore, the previously published announcement is not related to the limitation of the JP Morgan Chase group's activities in Türkiye or its exit from Türkiye, but is limited only to the process of canceling the brokerage firm operating license of the Company, which has not had any activities for a long time."

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)