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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Banking & Finance sector consolidation in 2021

Banking & Finance sector consolidation in 2021

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samaritan


Moderator
Moderator


Banking & Finance sector consolidation in 2021 1602568793297?e=1616025600&v=beta&t=wgfMpYwFRT6DhLBDo6f9a8gVtJEOYOcyiUc9bQlOX5U


[size=14]Asia Securities
2,605 followers16h • Edited • 16 hours ago


Follow[/size]
[size=14]Hon. Ajith Nivard Cabraal, State Minister of Money & Capital Market and State Enterprise Reforms remains optimistic of the outlook for 2021 noting that, “Even with the COVID situation, Sri Lanka has been able to generate reasonable interest and robustness within the markets. Sri Lanka has adjusted to the ‘new norm’ reasonably well which can be seen in the 3Q GDP results.”

Speaking about the balance between the health sector and the economy, he stated that “These are two competing interests that are tough to reconcile. There is a need to isolate and lockdown the economy against the need to do business to take the country forward. However, Sri Lanka has been able to strike a reasonably good balance in this sense. Sri Lanka will not seek funding from the IMF as the country hopes to manage with the available resources, and we have sufficient resources to get through 2021. We will also see wide consolidation program between the banks and finance companies, ensuring strong and stable institutions to take the country forward. Further, we expect investments to come into the economy.”
Banking & Finance sector consolidation in 2021 1608119194605?e=1611187200&v=beta&t=lH6Ij4PsArlwH7_vcfMVuiikS1NFd81SE1QflXjO8Z0
#AsiaSecurities #SriLanka #InvestmentConference
[/size]
(source: linkedin)


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The biggest risk in life is not taking any risk at all.

glad


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Is there a deadline for the consolidation?

samaritan


Moderator
Moderator
@glad wrote:Is there a deadline for the consolidation?
There is no deadline stated but it clearly says that the consolidation will take place in the year 2021. This has been an ambitious longstanding goal under the previous regime as well. Now that there is a dedicated Minister ANC under whose purview this comes under and him being a doer we will definitely see consolidation taking place in the banking & finance sector in 2021.

There is a strong possibility of a tie up between PABC & Sampath owing to DP factor and now that the green light is given.

Lets have some more discussion on the possibilities of mergers among other institutions in this sector.


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ADVENTUS likes this post

glad


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Thanks.
I thought the non-banking finance companies were requested/required to submit their proposals by 31st Dec 2020. I am not sure about it.

samaritan


Moderator
Moderator
CB promotes market-driven bank and finance company consolidation
“…. the Central Bank will continue to facilitate a market driven consolidation process, enabling small and medium-sized banks to merge with other banks, preferably with larger banks having sound financial positions and viable business models,” Prof. Lakshman said unveiling the monetary and financial sector policies for 2021 and beyond.


Several licensed finance companies have already announced their merger plans and several others have already tied the knot. More finance companies are expected to announce their willingness to travel on this path, as they are confronted with capital issues.



http://epaper.dailymirror.lk/epaper/viewer.aspx



UNQUOTE:

It is a fact that we have too many banks & NBFIs for the size of our economy and consolidation could create the much needed synergy in the sector.

Who are the potential partners in the Banking sector?
In my view one possible partners are PABC & Sampath, based on DP factor. NTB too may seek partnership with a larger bank. How about others?


_________________




The biggest risk in life is not taking any risk at all.

geesura

geesura
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@samaritan wrote:CB promotes market-driven bank and finance company consolidation
“…. the Central Bank will continue to facilitate a market driven consolidation process, enabling small and medium-sized banks to merge with other banks, preferably with larger banks having sound financial positions and viable business models,” Prof. Lakshman said unveiling the monetary and financial sector policies for 2021 and beyond.


Several licensed finance companies have already announced their merger plans and several others have already tied the knot. More finance companies are expected to announce their willingness to travel on this path, as they are confronted with capital issues.



http://epaper.dailymirror.lk/epaper/viewer.aspx



UNQUOTE:

It is a fact that we have too many banks & NBFIs for the size of our economy and consolidation could create the much needed synergy in the sector.

Who are the potential partners in the Banking sector?
In my view one possible partners are PABC & Sampath, based on DP factor. NTB too may seek partnership with a larger bank. How about others?
COMB is strongest bank in SL

samaritan


Moderator
Moderator
@geesura wrote:
@samaritan wrote:CB promotes market-driven bank and finance company consolidation
“…. the Central Bank will continue to facilitate a market driven consolidation process, enabling small and medium-sized banks to merge with other banks, preferably with larger banks having sound financial positions and viable business models,” Prof. Lakshman said unveiling the monetary and financial sector policies for 2021 and beyond.


Several licensed finance companies have already announced their merger plans and several others have already tied the knot. More finance companies are expected to announce their willingness to travel on this path, as they are confronted with capital issues.



http://epaper.dailymirror.lk/epaper/viewer.aspx



UNQUOTE:

It is a fact that we have too many banks & NBFIs for the size of our economy and consolidation could create the much needed synergy in the sector.

Who are the potential partners in the Banking sector?
In my view one possible partners are PABC & Sampath, based on DP factor. NTB too may seek partnership with a larger bank. How about others?
COMB is strongest bank in SL
No doubt, what are the chances of them tying a knot with another small/medium size bank?


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