SBP approves asset sale of BAFL Bangladesh to Bank Asia

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

Add Mettisglobal as a Trusted Source on Google

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	168,155.49 146.93M	-0.29% -481.36
ALLSHR	101,821.25 491.54M	-0.27% -275.83
KSE30	50,151.61 66.23M	-0.22% -111.06
KMI30	240,694.06 56.00M	-0.34% -821.69
KMIALLSHR	65,906.19 236.46M	-0.35% -230.83
BKTi	46,796.32 10.20M	-0.20% -94.16
OGTi	34,362.14 4.89M	0.39% 134.82

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,155.00	87,700.00 84,885.00	2130.00 2.51%
BRENT CRUDE	99.58	102.85 98.72	-2.73 -2.67%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	0.50 0.39%
ROTTERDAM COAL MONTHLY	142.35	143.00 142.00	-1.55 -1.08%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	89.24	93.51 88.06	-3.63 -3.91%
SUGAR #11 WORLD	19.22	19.37 18.93	0.28 1.48%