Bank Alfalah offers to buy SNB’s full stake in Samba Pakistan

29/03/2024 Argaam

Bank Alfalah offers to buy SNB’s full stake in Samba Pakistan

Logo of Saudi National Bank (SNB)

Pakistan’s Bank Alfalah Limited submitted a non-binding indicative offer to Saudi National Bank (SNB), offering to acquire its entire stake in Samba Bank Pakistan.

 

In a statement to Pakistan Stock Exchange (PSX) today, March 29, Bank Alfalah said the deal closure depends is subject to approval from regulatory authorities to proceed with the due diligence process for the acquisition.

 

SNB has responded positively, expressing willingness to consider Bank Alfalah’s proposal, Bank Alfalah added.

 

SNB owns 84.51% of PSX-listed Samba Pakistan, according to Argaam data.

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