DFCC Bank PLC and DFCC Vardhana Bank PLC have made an application to the Central Bank of Sri Lanka seeking provisional approval for a merger.

This follows a decision by the Boards of Directors that it would be in the best interests of the shareholders and other stakeholders of both banks to amalgamate DFCC and its 99.2 per cent owned subsidiary DFCC Vardhana Bank.

The amalgamation would be effective after all regulatory and shareholders’ approvals are received.