HSBC, Europe's biggest bank, plans to buy Lloyds Banking Group's retail operations in the United Arab Emirates, four sources said on Thursday.
HSBC was slated to make an announcement at 4:30 p.m. (1230 GMT) on Thursday.
Spokesmen at HSBC and Lloyd's declined to comment.
Lloyds said in January that it was in talks to sell its operations in the United Arab Emirates, its Middle Eastern hub with assets of 6.1 billion dirhams ($1.7 billion) in 2010.
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