Bank Alfalah Limited (PSX: BAFL) announced on Friday that Hatton National Bank (HNB) of Sri Lanka has decided not to proceed with the acquisition of its Bangladesh operations.
“We have been now informed by the CEO, HNB, that their Board of Directors in its meeting held on 2nd April 2025 has decided not to proceed with the acquisition of the Bangladesh Operations of Bank Alfalah,” BAFL said in the stock filing to the main bourse today.
The decision was communicated by HNB’s CEO following a board meeting held on April 2, 2025. This follows earlier disclosures by Bank Alfalah on August 26, 2024, and November 15, 2024, regarding HNB’s non-binding offer and the in-principle approval from the central banks of Pakistan and Bangladesh for due diligence.