Nations Trust Bank PLC (NTB) is pleased to announce that the Bank has received the approval from the Central Bank of Sri Lanka (CBSL) to acquire The Hongkong and Shanghai Banking Corporation, Sri Lanka’s (HSBC Sri Lanka) Retail Banking business.
NTB and HSBC signed a binding Sale and Purchase Agreement in September this year, with completion expected in the first half of 2026.
The acquisition of HSBC Sri Lanka’s Retal Banking business will bring approximately 200,000 customer accounts under NTB, including premium banking clients, credit cards and retail loans. This strategic move strengthens NTB’s position to serve a larger share of Sri Lanka’s premium retail banking segment and aligns well with its long-term growth objectives.
Nations Trust Bank’s Director/ Chief Executive Officer, Hemantha Gunetilleke said,
“The approval from CBSL gives us the go-ahead to move forward with the acquisition process, which is currently progressing very well. We are now able to move into the next phase of the project with confidence.”
HSBC Sri Lanka Chief Executive Officer, Mark Surgenor said, “Our priority during this period is to uphold the highest service levels for our customers and ensure that our colleagues are well supported during the transition into NTB. We are working closely with NTB towards a seamless transfer of banking services upon completion of the transaction.”
The acquisition marks a significant step in strengthening Nations Trust Bank’s leadership in premium retail banking and its commitment to delivering exceptional value to customers.
