DFCC, NDB sign MoU towards merging

March, 25, 2014

The boards of directors of the DFCC Bank (DFCC) and the National Development Bank PLC (NDB) have signed a memorandum of understanding towards exploring the possibilities of amalgamating under the consolidation of certain banking businesses.

The boards of both DFCC and NDB add that there is no definite decision on aspects of such consolidation at this stage and that they would announce the progress when necessary.