23rd Oct 2013 09:15
AGREEMENT FOR SALE OF
HSBC'S BANKING BUSINESS IN PAKISTAN TERMINATED
HSBC Bank Middle East Limited ('HBME'), an indirect wholly-owned subsidiary of HSBC Holdings plc, confirms that it has terminated the agreement for the sale of HBME's banking business in Pakistan to JS Bank Limited as regulatory approval has not been received.
HBME will explore alternative options for its banking business in Pakistan.
Media enquiries to: | ||
HSBC Holdings plc | ||
Patrick Humphris | +44 (0)20 7992 1631 | |
HSBC Bank Middle East | ||
Tim Doyne | +971 4423 5632 | |
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HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,600 offices in 80 countries and territories in Europe, Hong Kong, Rest of Asia Pacific, North and Latin America, and the Middle East and North Africa. With assets of US$2,645bn at 30 June 2013, the HSBC Group is one of the world's largest banking and financial services organisations.
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