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.