Pakistan Faysal wins bid for RBS Pakistan - source

KUALA LUMPUR/MANAMA May 20 (Reuters) - Faysal Bank (FYBL.KA) has won a bid to buy Royal Bank of Scotland's (RBS.L) Pakistan operations, a source said on Thursday, allowing its parent Ithmaar ITHMR.BH to expand its retail footprint.

Pakistan lender Faysal, 68 percent owned by Bahraini Islamic lender Ithmaar, beat Egyptian bank EFG-Hermes (HRHO.CA) for the deal, the source with direct knowledge of the matter said, but declined to give the value of the transaction.

The purchase would nearly double Faysal's branch base and help grow its business in Pakistan, said the source. "The deal is done," the source said, adding an announcement was expected next week.

Faysal Bank chief executive Naved Khan was not available for comment while RBS declined to comment. (Reporting by Liau Y-Sing in Kuala Lumpur and Frederik Richter in Manama; Editing by Dan Lalor) ($1 = 84.42 Pakistani rupees)