HSBC Bank Oman has confirmed that it is in talks with Karachi-based Meezan Bank to sell its Pakistan operations.
These negotiations are at a preliminary stage and may or may not lead to a sale, HSBC Oman in a filing with the Muscat Securities Market said.
Go deeper with GlobalData
"Any sale would be subject to, amongst other things, appropriate regulatory approvals. Further announcements will be made if or when necessary," the statement read.
HSBC Bank Oman operates two branches in Pakistan located in Karachi and Lahore, Muscat Daily reported.
In October, Meezan Bank bought the operations of HSBC Pakistan including ten branches.
Also, Doha Bank signed an agreement to buy HSBC Oman’s operations in India in September this year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
