Bank Asia Approves Acquisition Resolution

Bank Asia PLC held its 13th Extra-Ordinary General Meeting (EGM) on Sunday through a digital platform, continuing its practice of conducting shareholder meetings in a virtual format. The meeting was chaired by Mr Romo Rouf Chowdhury, Chairman of the bank, according to an official press release.

The principal agenda of the EGM centred on the consideration and approval of resolutions relating to the proposed acquisition of the Bangladesh operations of Bank Alfalah Limited. The proposed transaction covers the entirety of the Bangladesh operations, including all associated assets, liabilities, rights, and obligations. The completion of the acquisition remains subject to approval from the relevant regulatory authorities, in accordance with applicable legal and supervisory requirements.

At the meeting, shareholders reviewed the proposed resolutions and subsequently approved them. This approval represents a formal procedural step in progressing the transaction, while its completion will depend on the receipt of the necessary regulatory clearances and fulfilment of all applicable conditions.

The EGM was attended by members of the Board of Directors, senior management, and company officials. The proceedings were led by Chairman Mr Romo Rouf Chowdhury and included the participation of Vice Chairman Ms Zakia Rouf Chowdhury. Other attendees included Directors Ms Romana Rouf Chowdhury, Ms Farhana Haq, Mr Enam Chowdhury, Mr Nafees Khundker, Mr Sabeth Nayeem Choudhury, Ms Farzana Khan, and Mr Md Ataur Rahman, ndc. Mr Sohail R. K. Hussain, Managing Director of Bank Asia PLC, was also present, along with members of the senior management team. Mr Zahid Hasan, Acting Company Secretary, attended the meeting as well.

A significant number of shareholders participated virtually in the EGM, reflecting continued engagement in corporate governance activities through the digital platform. The virtual arrangement allowed shareholders to join the proceedings remotely and take part in the decision-making process without the need for physical presence.

The meeting was conducted in line with standard requirements governing extraordinary general meetings, where specific strategic and transactional matters are presented to shareholders for formal consideration and approval. The digital format enabled broader accessibility and ensured continuity in shareholder participation.

Attendance Summary

The resolutions approved at the EGM specifically relate to the proposed acquisition of the Bangladesh operations of Bank Alfalah Limited, including all components of the business as outlined in the meeting agenda. The transaction will proceed further only after obtaining the required approvals from the relevant regulatory authorities, which are essential for its completion under the applicable regulatory framework.