Doha Bank Shareholders Approve India Assets Buy

HSBC Bank Oman said in April it had agreed to the sale of its Indian business to Doha Bank.



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 to Doha Bank and the Qatari lender’s board authorised the purchase in September.

The value for the transaction was reported as about QAR75 million ($20.6 million) by Qatar-based newspaper Gulf Times.

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