Hatton National Bank to acquire 51% of Prime Grameen Microfinance

August, 4, 2014

Hatton National Bank is to acquire 51% of the issued and fully paid up voting shares of Prime Grameen Microfinance Limited from Prime Lands (Pvt) Limited for Rs. 660 million.

The transaction is expected to conclude on or before 30 September 2014.

Once this transaction is complete, Hatton National Bank would carry out its microfinance through Prime Grameen Microfinance. Hence, Hatton National Bank’s earlier proposal to set up a new finance company to carry out the microfinance business has been shelved.

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