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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » NDB-DFCC merger: Sunil Wijesinghe reveals latest details

NDB-DFCC merger: Sunil Wijesinghe reveals latest details

Go down  Message [Page 1 of 1]

Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
An international consultant is reportedly to be brought in to handle matters relating to the merger of the National Development Bank (NDB) and the DFCC Bank under the programme to merge Sri Lanka’s banks and financial institutions.

NDB Bank head Sunil Wijesinghe told AdaderanaBiz work on selecting this international consultant is in progress now and could be finalized within about two weeks.

“We will announce the chosen consultant once the appointment is made. We expect this consultant to provide advice till the merger is completed,” Wijesinghe added.

While a memorandum of understanding for a merger was signed between these two banks recently, it was agreed to study the opportunities from such a merger.

Meanwhile, the Sri Lanka Central Bank held discussions recently with the regional representatives and senior managements of foreign banks operating in Sri Lanka on the merger of the financial sector and these banks pledged to actively contribute towards Sri Lanka’s economic activities.

http://www.adaderana.lk/bizenglish/ndb-dfcc-merger-sunil-wijesinghe-reveals-latest-details/

2NDB-DFCC merger: Sunil Wijesinghe reveals latest details Empty NDB-DFCC merger Fri Jun 06, 2014 11:53 am

bandulawee


Manager - Equity Analytics
Manager - Equity Analytics
Is this a decision by Central Bank and Finance Ministry or is it a rational decision favouring shareholders and Bank clients?

stevenapple


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
What would happen to the Share Holders?

bandulawee


Manager - Equity Analytics
Manager - Equity Analytics
I think with a merger shareholders of each company will be given shares in the new company on a certain ratio depending on their networth based on net asset value and profit during last so many years. However as both these banks are in same business of project lending they will have common customers resulting in business growth not being as expected from any merger. As I see the profits too will not increase in line with the capital due to common business resulting in less return for the share holders.

stevenapple


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@bandulawee wrote:I think with a merger shareholders of each company will be given shares in the new company on a certain ratio depending on their networth based on net asset value and profit during last so many years. However as both these banks are in same business of project lending they will have common customers resulting in business growth not being as expected from any merger. As I see the profits too will not increase in line with the capital due to common business resulting in less return for the share holders.

Good point.Thanks.BTW we should identify the weaker link.

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