Bank Alfalah receives regulatory approval for potential Bangladesh exit

MG News | November 15, 2024 at 09:29 AM GMT+05:00

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November 15, 2024 (MLN): The State Bank of Pakistan and Bangladesh Bank have granted in-principle approval to Bank Alfalah Limited (PSX: BAFL) to allow Hatton National Bank PLC (HNB) of Sri Lanka to begin due diligence on BAFL’s Bangladesh operations.

BAFL shared the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

The transaction, which could lead to the sale of 100% of the assets and liabilities attributable to BAFL's Bangladesh operations to HNB, remains contingent on successful due diligence, regulatory consents, and third-party approvals.

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