JPMorgan Chase & Co.’s securities unit in Turkey has announced plans to wind down its operations in the country. JPMorgan Menkul Degerler AS intends to halt its capital market activities and relinquish its status as an intermediary institution, subject to the approval of its application by Turkey’s Capital Markets Board, according to a recent exchange filing.
The firm did not provide a specific reason for its decision to exit the market. The announcement arrives during a turbulent period for Turkish financial markets, as the benchmark Borsa Istanbul 100 Index has experienced a decline of more than 15% since mid-September.
Local markets have been grappling with a significant fund scandal that has left the investments of half a million people frozen and erased approximately $100 billion from the market value of Turkish stocks.
Regulatory filings indicate that JPMorgan’s Turkish brokerage held 67 million liras, equivalent to about $1.4 million, in assets at the end of 2025. During that period, the unit reported an operating loss of roughly 7 million liras.
While JPMorgan moves to exit, other foreign financial institutions continue to navigate the local landscape. Earlier in February, a local unit of Barclays obtained regulatory approval to establish and operate a brokerage business in the country.
