Bank Alfalah discloses end of acquisition talks with HNB
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MG News | April 04, 2025 at 02:34 PM GMT+05:00
April 04, 2025 (MLN): Bank Alfalah Limited (PSX: BAFL) has disclosed that Hatton National Bank (HNB) of Sri Lanka will no longer pursue the acquisition of its Bangladesh operations.
This development follows earlier statements dated 26th August 2024 and 15th November 2024 regarding HNB’s non-binding offer and the in-principle approval from the Central Banks of Pakistan and Bangladesh for due diligence, the company's filing on PSX revealed today.
The decision was communicated by HNB’s CEO, confirming that the bank’s Board of Directors, in its meeting held on 2nd April 2025, has resolved not to proceed with the acquisition.
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