DUBAI: The board of Doha Bank has authorised the purchase of the Indian assets of HSBC Bank Oman, and has called a shareholder meeting in November to approve the deal, it said in a statement yesterday. o value for the transaction was given in the statement to the Qatar Stock Exchange. HSBC Bank Oman, an affiliate of HSBC Holding, said in April it had approved the sale of its Indian business to Doha Bank. The Omani lender said then it had two branches and gross assets worth Rs3.5bn ($57m) at the end of 2013.
Shareholders will also be asked to approve the bank’s issuing of debt instruments of up to $2bn, with no single deal exceeding $750m, it said.Reuters
