Doha Bank shareholders approve India assets buy
HSBC Bank Oman had said in April that it had agreed to the sale of its Indian business to Doha Bank
Dubai: Shareholders of Doha Bank QSC have approved the purchase of the Indian assets of HSBC Bank Oman after an extraordinary meeting, the Qatari bank said in a statement on Monday.
HSBC Bank Oman, an affiliate of HSBC Holdings Plc, said in April it had agreed to the sale of its Indian business to Doha Bank and the Qatari lender’s board authorized the purchase in September.
The value for the transaction was reported as about 75 million riyals ($20.6 million) by Qatar-based newspaper Gulf Times.
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