SBP approves asset sale of BAFL Bangladesh to Bank Asia

By MG News | May 17, 2024 at 10:58 AM GMT+05:00

0:00

May 17, 2024 (MLN): The State Bank of Pakistan has granted in-principle approval to Bank Alfalah Limited (PSX: BAFL) to facilitate Bank Asia Limited (Bank Asia) in conducting the due diligence of BAFL's operations in Bangladesh, in preparation for the potential sale of assets and liabilities of BAFL's Bangladesh to Bank Asia.

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

Last month, BAFL received a non-binding indicative offer from Bank Asia to acquire BAFL Bangladesh's operations/assets and liabilities.

The consummation of the proposed transaction is subject to detailed due diligence, execution of transaction documents and receipt of regulatory, and third-party approvals and consents.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.45	68.89 67.75	-0.35 -0.51%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%