Home / Business and Economy / NTB Acquires HSBC Sri Lanka Retail Operations
NTB Acquires HSBC Sri Lanka Retail Operations
6 Dec
Summary
- Nations Trust Bank secured central bank approval for acquisition.
- Acquisition includes 200,000 retail customer accounts.
- Deal completion is anticipated in the first half of 2026.
Nations Trust Bank (NTB) has secured official approval from the Central Bank of Sri Lanka to proceed with its acquisition of HSBC Sri Lanka's retail banking operations. This development marks a significant shift in the Sri Lankan banking landscape, with NTB poised to integrate a substantial customer base.
The acquisition encompasses around 200,000 retail customer accounts, including valuable premium banking clients, along with their associated retail loans and credit cards. This move is strategically designed to bolster NTB's presence in the premium retail banking sector and contribute to its sustained growth trajectory. The integration is anticipated to be finalized by the first half of 2026.
HSBC's corporate and institutional banking services in Sri Lanka will continue without interruption following the transaction's closure. This strategic divestment by HSBC aligns with its global simplification plan, allowing the group to focus on core areas with stronger competitive advantages and growth potential. Both banks are collaborating to ensure a smooth transition for customers and employees.
