Bank Alfalah grants initial approval for Bank Asia’s acquisition offer

MG News | April 17, 2024 at 12:29 PM GMT+05:00

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April 17, 2024 (MLN): The Board of Directors of Bank Alfalah Limited (PSX: BAFL) has accorded its in-principle approval to the non-binding indicative offer received from Bank Asia Limited, Dhaka, Bangladesh (Bank Asia) to acquire the Bank's operations/assets and liabilities.

BAFL disseminated this information through a notice issued to the Pakistan Stock Exchange (PSX) today.

This transaction is subject to compliance with all applicable laws and regulations and obtaining necessary regulatory approvals.

BAFL will now seek approval from the State Bank of Pakistan for Bank Asia to commence due diligence on Bank Alfalah, Bangladesh, it said.

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