Bank Asia set to take over Bank Alfalah

Bank Asia, a private sector bank in Bangladesh, is set to acquire the Bangladesh operations of Pakistan-based Bank Alfalah. This will be the third time Bank Asia has taken over the Bangladesh chapter of a foreign bank, after acquiring Canada-based Nova Scotia and Pakistan’s Muslim Commercial Bank earlier. The boards of both banks have given in-principle approval for the acquisition, which is now subject to regulatory approvals from the central banks of Bangladesh and Pakistan.(photo/banklogos)