HSBC has announced it is closing branches in Aydin and Nazilli, but remains committed to staying in Turkey.

Local media reported that the affected branches will be close on the last day of trading as of Friday November 4, 2016.

It appears that branches crucial to expats, such as Didim and Kusadasi, are not being affected by the changes.

In a separate move, the CEO of HSBC Turkey, Selim Kervanci, has ruled out earlier rumours of a possible exit from the Turkish market.

In an interview with Anadolu Agency, Kervancı said: “HSBC has exited 17 to 18 countries and territories. In some countries, [HSBC] no longer provides private banking services. In Turkey, we have been through a restructuring process.

“We have absolutely no intention of selling the bank or moving out of the country.”

Ruling out rumours that HSBC might consider exiting from Turkey, he said: “We are one of the first foreign banks to have entered the Turkish market. We decided to continue with a new strategy.

“This involves focusing on areas where we are good at. And we are very good at wholesale banking. In retail banking, we will continue to focus on premium customers.”

He said: “One of the most important problems [of Turkey] is the domestic savings gap. To reach a sustainable growth path, Turkey needs a major amount of foreign funding. We are the best bank to provide this

“There is a major foreign investment potential towards Turkey. To turn this potential into investment, we have assigned ourselves a duty to be an ambassador to draw investment into Turkey. We are explaining the Turkish economy’s strength to everyone.”