Doha Bank agrees to purchase HSBC Bank Oman business in India

Dubai, April 17, 2014: H. E Sheikh Fahad Bin Mohamed Bin Jabor Al Thani - Chairman of Board of Directors of Doha Bank has informed that Doha Bank Q.S.C ('the Bank') has entered into an agreement with HSBC Bank Oman SAOG ('HSBC Oman'), an indirect 51 per cent owned subsidiary of HSBC Holdings plc, to purchase the banking business of HSBC Bank Oman in India.  He further added that all staff of this operation (the business) will be transferred to Doha bank as a part of the purchase. The business being acquired consists of its two branches and had gross assets of INR 3.5 Billion (approx. USD 58 million) as at 31.12.2013.

H. E Sheikh Fahad Bin Mohamed Bin Jabor Al Thani also stated that the transaction is subject to the approvals of Regulatory Authorities in Qatar, India, Oman and Jersey.