Statement from JP Morgan on Turkey: Operating license process is not a withdrawal

JP Morgan, one of the world's leading financial institutions, reported that the application made to the Capital Markets Board (CMB) for the cancellation of its brokerage operating license in Turkey does not mean a withdrawal from Turkey, but rather that they have decided to expand their banking activities.

JP Morgan announced that the process regarding the cancellation of the operating license of J.P. Morgan Menkul Değerler AŞ aims to align the legal status of the company, which has not been actively operating for a long time, with the current situation. The company stated that it has not carried out any capital market activities or provided investment services to clients since July 3, 2015.

According to official statements, the banking activities of the JPMorgan Chase group in Turkey will continue uninterrupted. While the JP Morgan Istanbul Branch notified the Public Disclosure Platform (KAP) that it has decided to expand its banking activities in Turkey, it was emphasized that the current process only covers the updating of the inactive brokerage status.