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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka bank merger plans to be submitted by June: CB Governer

Sri Lanka bank merger plans to be submitted by June: CB Governer

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realstock


Senior Equity Analytic
Senior Equity Analytic

Jan 02, 2014 (LBO) - Sri Lanka's Central Bank is expecting two development banks and smaller state banks to be merged, Governor Nivard Cabraal said.

DFCC Bank and National Development Bank, both listed, will have to merge and become a stronger bank, he said, during the Central Bank's annual policy speech Thursday.
The two banks have substantial private ownership, but they also have state shareholders.

Smaller private banks with less than 100 billion rupees in assets should grow or merge during a 'reasonable period' Cabraal said.

Smaller state banks should also merge, he said.

Banks are expected to submit plans for mergers by June 2014.

State-run Bank of Ceylon and People's Bank is expected to expand their international presence



http://www.lankabusinessonline.com/news/sri-lanka-bank-merger-plans-to-be-submitted-by-june:-cb-governor/479981806

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

http://www.lankabusinessonline.com/news/sri-lanka-to-reduce-finance-companies/1698309083

Friends anybody is having the link to the full Annual Road Map for 2014?

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