Font Size

- Aa +

Mon 1 Dec 2014 01:46 PM

Font Size

- Aa +

Doha Bank shareholders approve India assets buy

Shareholders give backing to the purchase of the Indian assets of HSBC Bank Oman after meeting

Doha Bank shareholders approve India assets buy

Shareholders of Doha Bank 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 Holding, said in April it had agreed to the sale of its Indian business toDoha Bank and the Qatari lender's board authorised 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.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.