“HSBC Bank Oman completed the sale of its legacy shares held in Visa Inc, as part of its policy to dispose of minority investments that are not part of its core banking activities,” HSBC  Oman said in its filing with the Muscat Securities Market (MSM).
HSBC Oman shares jumped 1.96 per cent on Sunday following the announcement.
“This transaction has generated a pre-tax profit for HSBC Bank Oman in the region of RO3.6mn, which will be reflected in bank’s full year financial results for 2015,” HSBC Bank Oman said.
In November, HSBC Oman completed the sale of its banking business in Pakistan to Meezan Bank Ltd.  HSBC Oman had said that the sale will have a negative impact on its overall performance to the value of US$3mn and will be included in its consolidated results for the year ended December 31, 2015.
In the first quarter of 2015, HSBC Oman completed the sale of its India business to Doha Bank.