Ghazanfar Bank bids for Bank Alfalah's Afghanistan business

Bank Alfalah has taken the first formal step towards exiting Afghanistan, after accepting a non-binding offer from Kabul-based Ghazanfar Bank to acquire its Afghanistan operations.

In a notice to the Pakistan Stock Exchange (PSX) dated 4 December 2025, the bank said its board had approved a non-binding offer from Ghazanfar Bank to buy “Bank Alfalah Limited’s Afghanistan operations/business”, subject to satisfactory due diligence, execution of definitive agreements and all necessary regulatory approvals. The bank will now seek permission from the State Bank of Pakistan (SBP) and Da Afghanistan Bank (DAB) to allow Ghazanfar Bank to begin due diligence on the business.

The disclosure does not put a value on the potential transaction, nor does it guarantee that a deal will close. But it is the clearest signal yet that Alfalah is again serious about a strategic exit from Afghanistan, a market where it has operated for well over a decade and where regulatory complexity and geopolitical risk have steadily increased.