The State Bank of Pakistan has granted Bank Alfalah Limited in-principle approval to facilitate Bank Asia Limited in conducting due diligence of its operations in Bangladesh. Bank Alfalah aims to sell 100% of its assets and liabilities in Bangladesh to Bank Asia. Bank Alfalah, one of Pakistan’s largest commercial banks, disclosed this development in a statement to the Pakistan Stock Exchange. The proposed transaction is subject to detailed due diligence, execution of transaction documents, and regulatory approvals. Bank Asia had previously announced its intention to acquire Bank Alfalah’s operations in Bangladesh, marking its third acquisition of foreign bank assets in the country.
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