HONG KONG (Indonesia Today) – HSBC Bank Middle East Limited (HBME), an indirect wholly-owned subsidiary of HSBC Holdings plc, has entered into an agreement to sell its banking business in Pakistan to JS Bank Limited.
HSBC informed HK Stock Exchange that the transaction, which is subject to regulatory approval and the approval of the direct shareholders in HBME and JS Bank Limited, is expected to complete in the final quarter of 2012.