Hatton National Bank (HNB) has received approval from its Board of Directors to initiate discussions regarding the acquisition of Bank Al-Falah’s Bangladesh operations. In a filing to the Colombo Stock Exchange (CSE), HNB confirmed that its board has also given the green light to issue a non-binding offer. This offer is subject to the completion of a due diligence process.
Bank Al-Falah is a multinational bank with an international presence in Pakistan, Afghanistan, Bahrain, the UAE, and Bangladesh.
HNB stated that further communication will be issued once the board reaches a final decision, pending successful due diligence, negotiations, and necessary regulatory approvals.