JPMorgan’s Turkey Securities Unit Plans to Cease Operations

JPMorgan Chase & Co.’s securities unit in Turkey said it planned to cease operating in the country.

JPMorgan Menkul Degerler AS will halt its capital market activities and lose its status as an intermediary, pending approval of its application by the Capital Markets Board, the company said in an exchange filing. The group didn’t state a reason for its decision.

The announcement comes at a turbulent time for Turkey’s market. The Borsa Istanbul 100 Index has fallen more than 15% since mid-September as the market grapples with a fund scandal that has left half a million people’s investments frozen and wiped some $100 billion off the market value of Turkish stocks.

JPMorgan’s Turkish brokerage had 67 million liras ($1.4 million) of assets as of end-2025, according to a regulatory filing. It had an operating loss of about 7 million liras. A local Barclays unit obtained approval in February to operate a brokerage business.