Bloomberg: HSBC made a profit of $ 120 million a day on the depreciation of TL last year
London-based HSBC, one of the largest banking and financial services organizations in the world, reported that in the summer months of 2018, the US dollar had a $ 120 million profit in just one day.
The experienced Pastor Andrew Brunson Turkey with concern that the US economy is overheated by the crisis in August 2018, TL depreciated hard and USD / TL rate was increased to 7.30, exceeding the historical peak levels.
At the time, Bloomberg reported that HSBC made a profit of $ 120 million on transactions in the money markets on a single day. According to the information provided by the Bank in its annual report to the banking regulation board, HSBC says, HS The gain achieved is related to the fluctuation in the Turkish lira in the spot market
Bloomberg points out that HSBC's profit from the depreciation of TL is more than double the profit of the competing banks, and that the German financial institution Deutsche Bank has made a profit of $ 35 million from TL transactions in the same period.
Bloomberg, such as Barclays Turkish companies with investments in some of the international banks in 2018, the loss of live in the TL has been a loss of a hard wave.
