Bank Alfalah Limited (Bangladesh Operations)

The bank is currently in a transition phase, awaiting final regulatory approval to complete its merger and transfer of operations to Bank Asia PLC.

STATUS: Bank Alfalah Bangladesh is a foreign commercial bank in a confirmed exit process. BAFL shareholders approved the BDT 5.8 billion sale to Bank Asia on 2026-03-26 (96.5% approval at AGM). As of 2026-05-20, regulatory approvals from Bangladesh Bank and State Bank of Pakistan are pending; the bank continues operating its 7 branches. The deal is NOT yet closed. HISTORY: Commenced Bangladesh operations on 2005-05-16 when it formally took over Shamil Bank of Bahrain's Bangladesh branch network for USD 17.88 million — this was Bank Alfalah's first international branch outside Pakistan. The parent (Pakistan) was incorporated 1997, majority-owned by Abu Dhabi Group. FINANCIALS: 2025 year-end figures reported in acquisition coverage: total assets Tk 2,942 crore (BDT 29,420,000,000), deposits Tk 2,100 crore (BDT 21,000,000,000), net assets Tk 102 crore (BDT 1,020,000,000), profit before tax Tk 29 crore (down 69% YoY from Tk 93 crore in FY2024). FY2023 figures per TBS: total balance sheet over Tk 3,100 crore, operating profit Tk 68 crore, net profit Tk 43 crore, shareholders' equity Tk 618 crore. Loans/advances, NPL ratio, and CAR not confirmed from primary sources — left null. FX rate used for 2025: USD 1 = BDT ~122 (implicit from $47.5m = Tk 580 crore). Gross loans figure not available from public sources. OPERATIONS: 7 branches across 3 districts — 5 in Dhaka (Gulshan, Motijheel, Dhanmondi, Mirpur, Uttara), 1 in Chattogram (Agrabad), 1 in Sylhet. Employee count not publicly disclosed for Bangladesh operations specifically. No ATM data confirmed. LEADERSHIP: Adil Islam appointed country head approximately April 2020 (exact date not confirmed; only month-year from The Business Standard/Daily Sun articles). md_ceo_since set to 2020-04-01 as approximate. No subsequent appointment publicly confirmed — the bank has been in wind-down/sale mode. NOTE ON HNB BID: Hatton National Bank (Sri Lanka) had submitted a non-binding indicative offer in early 2025 but withdrew on 2025-04-04. Bank Asia's definitive agreement was announced 2025-05-29 and shareholder-approved 2026-03-26. VERIFICATION STATUS: partial. Financial figures (total assets, deposits) confirmed from multiple press reports citing TBS/Daily Star but no primary balance sheet document retrieved. Loans/NPL/CAR not sourced from primary documents.