BAFL plans to sell Bangladesh operations to Bank Asia

In a notification sent to PSX on 17/04/2024, Bank Alfalah (BAFL) has announced selling off its assets and operations in Bangladesh to Bank Asia Limited.

The Board of Directors of Bank Alfalah Limited has accorded its in-principle approval/acceptance of the non-binding indicative offer received from Bank Asia Limited, Dhaka, Bangladesh (“Bank Asia”) to acquire the Bank’s Bangladesh Operations/assets and liabilities, subject to compliance with all applicable laws/regulations and obtaining necessary/ regulatory approvals.

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

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The shares of BAFL were last trading at Rs.54.40 today.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →