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NTB announces Rs. 18 b deal for HSBC Sri Lanka's retail banking business
September 25, 2025
|Daily FT
NATIONS Trust Bank PLC (NTB) yesterday entered into a binding Sale and Purchase Agreement with Hong Kong and Shanghai Banking Corporation (HSBC), acting through its local branch HSBC Sri Lanka to acquire its retail banking business carried out in Sri Lanka for a consideration of Rs. 18 billion and applicable taxes if any.
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This transaction was approved by the NTB Board of Directors on Tuesday, and will be funded by internally generated funds, while maintaining all regulatory ratios. In a statement, NTB said the transaction was expected to reach completion in the first half of 2026, subject to mandatory regulatory approval from the Central Bank of Sri Lanka and the satisfaction of other conditions precedent as set out in the Sale and Purchase Agreement. The proposed acquisition covers HSBC Sri Lanka's retail banking business including premium banking customers (HSBC Premier), credit cards, retail loans, and accounts of approximately
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