Karachi August 26 2024: Bank Alfalah Limited informs that in connection with the proposed sale of bank’s Bangladesh Operations, the Bank has received a non-binding offer from Hatton National Bank (HNB) of Sri Lanka to acquire the Bank’s Bangladesh Operations.
This non-binding offer is in addition to the non-binding offer already received from Bank Asia Ltd. (Bangladesh).
The Board of Directors of the Bank has accorded its in-principle approval/acceptance of the non-binding offer received from HNB of Sri Lanka to acquire the Bank’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.