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HSBC Bank Oman to sell overseas branches
- Oman: Sunday, November 25 - 2012 at 02:11
Ewan Stirling, the chief executive of HSBC Bank Oman has said the lender aims to identify buyers for five overseas branches of erstwhile Oman International Bank (OIB) in India and Pakistan, Times of Oman has reported. OIB has five overseas branches three in Pakistan and two in India. The decision was made prior to HSBC's merger with OIB, Stirling said. "We are hoping to identify buyers by the end of the year, a challenging timeline, given the number of parties involved and the need for regulatory approval in both countries," he said.
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