HNB to kick off discussions to acquire Bank Al-Falah B’desh operations

Hatton National Bank (HNB) has received approval from its Board of Directors to kick off discussions in acquiring the Bangladesh operations of Al -Falah.

In a filing to the Colombo Stock Exchange (CSE) it said that board approval was also given to issue a non-binding offer. The non-binding offer was issued pending the completion of the due diligence exercise by the bank.
Bank Al- Falah is a multinational bank having international presence in Pakistan, Afganistan and Baharain, UAE, and Bangladesh.

“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,” HNB said in its disclosure.