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Doha Bank buys HSBC Oman business in India

: Thursday, April 17 - 2014 @ 17:23

The Qatar Exchange (QE) 20 Index advanced by 0.78 per cent to hit 12,550.98 points on Thursday, April 17. Doha Bank ended up by 0.16 per cent at QAR63. Earlier in the day, the lender said it has entered into an agreement with HSBC Bank Oman – an indirect 51 per cent owned subsidiary of HSBC Holdings plc – to purchase the banking business of HSBC Bank Oman in India. The lender further added that all staff of this operation (the business) will be transferred to Doha bank as a part of the purchase. The business being acquired comprises its two branches and had gross assets of INR3.5 billion ($58 million) as of December 31, 2013. The transaction is subject to the approvals of regulatory authorities in Qatar, India, Oman and Jersey.



Gérard Al-Fil

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Thursday, April 17- 2014 @ 17:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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