DUBAI:
HSBC Bank Oman has agreed to selling its business in Pakistan to Meezan Bank, a local media outlet reported Sunday.
The deal, which is subject to regulatory and other approvals, is expected to be completed during the second half of 2015, the bank said in a statement.
The business had one branch and gross assets of around $40 million as of March 31, it said.
The bank is an indirect 51 percent-owned subsidiary of HSBC Holdings.