Doha Bank agrees to purchase HSBC Bank Oman business in India

April 17, 2014 4:19 pm

H. E Sheikh Fahad Bin Mohamed Bin Jabor Al Thani – Chairman of Board of Directors of Doha Bank has informed that Doha Bank Q.S.C (‘the Bank’) has entered into an agreement with HSBC Bank Oman SAOG (‘HSBC Oman’), an indirect 51 per cent owned subsidiary of HSBC Holdings plc, to purchase the banking business of HSBC Bank Oman in India.

He further added, “All staff of this operation (the business) will be transferred to Doha bank as a part of the purchase. The business being acquired consists of its two branches and had gross assets of INR3.5bn (approx. $58m) as at 31.12.2013.”

H. E Sheikh Fahad Bin Mohamed Bin Jabor Al Thani also stated, “The transaction is subject to the approvals of Regulatory Authorities in Qatar, India, Oman and Jersey.”

Doha Bank is the largest private commercial bank in the State of Qatar. It was incorporated in 1978 and commenced its banking business (including its International Banking services) in Doha, Qatar on March 15, 1979.

As one of Qatar’s leading financial services company, Doha Bank is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Doha Bank provides individuals and commercial, corporate and institutional clients across Qatar and even internationally, new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through an extensive network, and multiple access channels.

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