Oman Bank Merger With HSBC on Schedule, Al Watan Says

(Corrects date of board meeting in second paragraph.)

Oman International Bank SAOG (OIBB)’s merger with HSBC Holdings Plc (HSBA)’s operations in the Arab country is proceeding on schedule, Al Watan reported, without saying how it obtained the information.

The Muscat-based bank will elect a new board of directors May 31, the newspaper said. Oman’s Ministry of Commerce and Industry had halted the merger after a lawsuit, Times of Oman reported last week.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net