Qatar’s Doha Bank Acquires HSBC Bank Oman’s India Operations - Bloomberg:
"Doha Bank QSC agreed to acquire HSBC Bank Oman S.A.O.G’s operations in India as the Qatari lender expands in Asia to counter diminishing margins at home.
The bank’s board of directors yesterday approved the combination of HSBC Oman’s India operations with Doha Bank’s India unit, the lender said in a release today posted on the Qatar Exchange website. Financial details weren’t disclosed.
Doha Bank is seeking to boost profits from overseas operations to as much as 30 percent of net income by next year, up from 10 percent in 2013. Doha Bank’s net interest margins dropped to 3.1 percent in the second quarter, from 3.8 percent three years earlier, according to data compiled by Bloomberg."
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