Bank Alfalah Limited (BAFL) has received shareholder approval to sell its Bangladesh operations to Bank Asia Limited in a deal valued at approximately $47.5 million, marking a strategic shift in the bank’s international footprint.
Read More: PICT Discloses Offshore Ownership Change as ICTSI Transfers Stake to Sea Link Group
The decision was approved during the bank’s 78th Annual General Meeting (AGM), with the transaction valued at around BDT 5.8 billion, subject to final adjustments at closing based on agreed financial terms.
The proposed sale will be executed through a merger of Bank Alfalah’s Bangladesh operations into Bank Asia Limited, allowing for a structured transfer of assets, liabilities and operations in line with regulatory frameworks.
However, the transaction remains subject to regulatory approvals from the State Bank of Pakistan, Bangladesh Bank and other relevant authorities in both jurisdictions. The deal will only be finalised once all legal and compliance requirements are fulfilled.
Bank Alfalah, one of Pakistan’s leading commercial banks, operates an extensive domestic network and maintains an international presence across multiple regions. The divestment is seen as part of a broader strategy to streamline overseas operations and focus on core markets.
The move also follows earlier developments related to the bank’s planned exit from Afghanistan operations, indicating a wider effort to optimise its international portfolio and improve operational efficiency.
Industry analysts view the transaction as a strategic consolidation step, enabling Bank Alfalah to redeploy capital and management focus towards higher-growth opportunities, while allowing Bank Asia to expand its footprint in Bangladesh’s banking sector.
