HNB to explore acquisition of Bank Alfalah’s Bangladesh operations

Tuesday, 27 August 2024 02:44 - - {{hitsCtrl.values.hits}}

Board of Directors of Hatton National Bank PLC has approved to commence discussions with Bank Alfalah regarding a potential acquisition of the bank’s Bangladesh operations.

In an announcement to the Colombo Stock Exchange (CSE), the HNB informed that its Board of Directors approved to start discussions with Bank Alfalah and to issue a non-binding offer to acquire the Bangladesh operations of Bank Alfalah.

The Bank Alfalah is a multinational bank having international presence in Pakistan, Afghanistan, Bahrain, UAE and Bangl-adesh. The non-binding offer was issued pending the completion of the due diligence exercise by the Bank.

“A further communication in this regard will follow once the Board reaches a final decision with respect to the acquisition subject to due diligence, negotiations and necessary regulatory clearances,” the statement added.