Bank Alfalah Limited (BAFL) has announced its decision to sell its Bangladesh operations to Bank Asia Limited, Dhaka, according to a filing at the Pakistan Stock Exchange (PSX) on Thursday.
This decision was approved by the BAFL’s Board of Directors and remains subject to regulatory approval from the State Bank of Pakistan (SBP), the Central Bank of Bangladesh, and other relevant authorities.
According to a disclosure, the decision is contingent on compliance with legal and procedural requirements, alongside the execution of definitive agreements. A Memorandum of Understanding (MOU) and Term Sheet were finalised on the evening of May 28, 2025.
This strategic decision is expected to reshape Bank Alfalah’s international operations and strengthen its core presence.
Bank Alfalah (BAFL) has been attempting to sell its Bangladesh operations for some time, but these efforts have yet to yield successful results. In April, Sri Lanka’s Hatton National Bank (HNB) announced it would not proceed with acquiring Bank Alfalah’s Bangladesh unit. The decision came after HNB’s Board of Directors met on April 2, 2025, following earlier announcements of a non-binding offer and regulatory approvals from the central banks of Pakistan and Bangladesh.
HNB had initially expressed interest and received in-principle approval to start due diligence on the acquisition in August and November 2024.
