Bangladesh operations: BAFL receives non-binding offer from HBN

KARACHI: Bank Alfalah Limited has received a non-binding offer from Hatton National Bank (HNB) of Sri Lanka to acquire the

Bank Alfalah’s Bangladesh operations.

This non-binding offer is in addition to the non-binding offer already received from Bank Asia Limited (Bangladesh), material information sent to Pakistan Stock Exchange on Monday said.

The board of directors of the Bank Alfalah has accorded its in-principle approval/ acceptance of the non-binding offer received from HNB of Sri Lanka to acquire the Bank Alfalah’s Bangladesh operations/assets and liabilities, subject to compliance with all applicable laws/ regulations and obtaining of necessary/regulatory approvals.

“We will now seek approvals from the central banks of Pakistan and Bangladesh for HNB to commence due-diligence on Bank Alfalah, Bangladesh operations”, it added.

Copyright Business Recorder, 2024