Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Two major commercial banks of Sri Lanka agree to consolidate
Tue, Mar 25, 2014, 12:42 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 24, Colombo: Two large commercial banks of Sri Lanka, the DFCC Bank and the National Development Bank (NDB) on Monday have entered into a Memorandum of Understanding (MoU) on amalgamating the two banks.

In a stock market disclosure today, the board of directors of DFCC and NDB announced that "in pursuance to the policies announced by the government to encourage consolidation of certain banking business, the two Boards realizing the positives in this model have taken the initiative to explore the possibilities of amalgamating."

As a step in working towards the proposed amalgamation both banks have entered into the today's MoU.

The Boards of both DFCC and NDB reiterated that there have been no definite decisions on any aspect of consolidation at this stage.

The two boards assured their shareholders and employees, including those of the DFCC Vardhana Bank PLC,the regulatory authorities and the investing public that they will be kept informed of the progress on a possible merge when necessary.

ColomboPage - Recent 10 Stories
Sri Lankan doctor sentenced to death for rape and murder of a garment factory worker
-- [24 minutes ago]
Sajith Premadasa to participate in campaigning for Uva PC election from September 07
-- [49 minutes ago]
Employees of Sri Lanka's International Airport threaten to strike
-- [1 hour and 21 minutes ago]
Tamil Nadu CM urges Indian PM to find a mechanism to get Katchatheevu back from Sri Lanka
-- [1 hour and 43 minutes ago]
Sri Lanka slides down the ranks of Global Competitiveness this year
-- [3 hours ago]
Sri Lanka Freedom Party can consolidate freedom to the whole nation - President
Nigerian military delegation in Sri Lanka to learn about welfare systems in Tri Services
IFIMES presents a high award to Sri Lanka Foreign Minister
Secretary of Sri Lanka Ministry of Justice summoned before Human Rights Commission
Sri Lanka to introduce a certified price for rubber

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.