Pakistan's Faysal Bank Ltd. (FABL.KA) has won the bid for Royal Bank of Scotland Group PLC's (RBS) Pakistan operations, a person familiar with the situation said Friday.

The deal is expected to be finalized soon, the person added, without providing any financial terms.

Faysal, which is majority owned by Bahrain-based Ithmaar Bank, and Egypt-based EFG Hermes Holding S.A.E. (HRHO.CI) were given due diligence on the operations earlier this year.

This is the second attempt by RBS to sell its 99.37% ownership interest in RBS Pakistan, after a $87 million deal with Pakistan's MCB Bank Ltd. (MCB.KA) failed to get regulatory clearance.

The proposed sale is part of RBS's plan to sell non-core operations, which include other Asian assets.

-By Patricia Kowsmann, Dow Jones Newswires; +44(0)207-842-9295, patricia.kowsmann@dowjones.com