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HSBC Oman Says In Talks With Meezan Bank To Sell Pakistan Unit

HSBC Oman Says In Talks With Meezan Bank To Sell Pakistan Unit

HSBC Oman, 51 per cent owned by London-listed HSBC, said talks were preliminary and may or may not lead to a sale.

HSBC Oman is in talks with Karachi’s Meezan Bank to sell its Pakistan unit, Muscat’s fourth-largest lender by market capitalisation said on Sunday.

HSBC Oman, 51 per cent owned by London-listed HSBC, said talks were preliminary and may or may not lead to a sale. It did not provide further details.

Meezan Bank, a sharia-compliant lender, on Friday said it had received regulatory approval to study buying HSBC Oman’s Pakistani unit.

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