Bank Muscat to sell stake in Indian bank
Muscat, March 17, 2009
Bank Muscat said on Tuesday it had sold 40 percent of its holdings in India's HDFC Bank and planned to sell its entire stake.
Oman's largest lender said in a statement on the bourse website that it expected 4 million rials ($10.39 million) to 7 million rials in losses in the first quarter related to its equity portfolio.
Bank Muscat has a stake of about 3 percent in HDFC. - Reuters