Seeking to expand Asian operations, Qatar-based Doha Bank will acquire the Indian operations of the HSBC Bank Oman.
The board of Doha Bank has approved the terms of amalgamation to "take over and combine" the banking operations of HSBC Bank Oman SAOG, India, with Doha Bank QSC India operation as a going concern, Doha Bank said a filing to the Qatar Stock Exchange.
However, financial details of the transaction remain undisclosed.
Late last year Doha Bank had secured licence from the Reserve Bank of India (RBI) to commence banking operations in India and has been permitted to open a branch in Mumbai to provide full-scale banking services.
