Karachi April 17 2024: Bank Asia to acquire the Bank Alfalah Bangladesh operations, assets and liabilities, according to statement issued by Bank Alfalah.
“The Board of Directors of Bank Alfalah Limited (“the Bank”) has accorded its in-principle approval / acceptance of the non-binding indicative offer received from Bank Asia Limited, Dhaka, Bangladesh (“Bank Asia”) to acquire the Bank’s Bangladesh Operations/assets and liabilities, subject to compliance with all applicable laws/regulations and obtaining of necessary/ regulatory approvals” Bank Alfalah states in its filing to the exchange.
“We will now seek approval from the State Bank of Pakistan for Bank Asia to commence due diligence on Bank Alfalah, Bangladesh” the statement added.
