Karachi May 29 2025: Bank Alfalah has executed term sheet for selling its Banks’s Bangladesh Operations to Bank Asia Limited, according to company filing to the PSX.
“The Board of Directors of Bank Alfalah Limited, has accorded its approval to sell the Bank’s Bangladesh Operations to Bank Asia Limited, Dhaka, Bangladesh, subject to approval of the State Bank of Pakistan, the Central Bank of Bangladesh, and/or any other regulatory authority, compliance with necessary legal/procedural requirements, and the execution of definitive agreements” states bank filing to the Pakistan Stock Exchange.
“In this regard, MOU/Term Sheet has been executed in the evening of May 28, 2025” the statement added.
Earlier on 17th May 2025, the State Bank of Pakistan has granted in-principle approval to Bank Alfalah Limited to facilitate Bank Asia Limited in conducting the due diligence of BAFL’s operations in Bangladesh, in view of the prospective sale of 100% of the assets and liabilities attributable to BAFL’s Bangladesh operations to Bank Asia.
