HSBC Holdings is to acquire HSBC Bank Oman's banking business in Pakistan. The deal, which is still subject to regulatory and other approvals, is expected to be completed in the second half of 2015. The business had one branch and gross assets of around $40mn. It is an indirect 51% owned subsidiary of Meezan Bank.
Meezan Bank is to acquire HSBC Bank Oman's banking business in Pakistan. The deal, which is still subject to regulatory and other approvals, is expected to be completed in the second half of 2015. The business had one branch and gross assets of around $40mn. It is an indirect 51% owned subsidiary of HSBC Holdings.