Karachi, Bank Alfalah Limited has been granted approval by the State Bank of Pakistan to commence due diligence on Samba Bank Limited, according to information available from the Pakistan Stock Exchange (PSX). This follows BAFL’s public announcement on April 9, 2024, regarding its potential acquisition of an 84.51% stake in Samba Bank Limited, currently held by Saudi National Bank.

The approval by the State Bank of Pakistan allows Bank Alfalah Limited to further assess the operational and financial aspects of Samba Bank Limited as part of the acquisition process. This due diligence is an essential step in completing the transaction, aimed at evaluating the viability and potential benefits of the acquisition.

The TRE Certificate holders of the Exchange have been informed about this development, which could influence the financial and operational future of both Bank Alfalah and Samba Bank Limited.