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 HSBC Bank Oman S.A.O.G. sells its business in Pakistan

HSBC Bank Oman S.A.O.G. sells its business in Pakistan

Further to our announcement on 25 June 2015, HSBC Bank Oman S.A.O.G. (HBON), an indirect 51% owned subsidiary of HSBC Holdings plc, completed the sale of its banking business in Pakistan (the 'Business') to Meezan Bank Limited ('MBL') on 6 November 2015.

The total gross assets of the Business sold to MBL, as at 30 September 2015, was Pakistan Rupees 4.2 billion (approximately USD 40 million).  The sale will have a negative impact on the overall performance of HBON to the value of USD 3 million and will be included in its consolidated results for the year ended 31 December 2015.