NDB-DFCC merger: Sunil Wijesinghe reveals latest details

June, 5, 2014

An international consultant is reportedly to be brought in to handle matters relating to the merger of the National Development Bank (NDB) and the DFCC Bank under the programme to merge Sri Lanka’s banks and financial institutions.

NDB Bank head Sunil Wijesinghe told AdaderanaBiz work on selecting this international consultant is in progress now and could be finalized within about two weeks.

“We will announce the chosen consultant once the appointment is made. We expect this consultant to provide advice till the merger is completed,” Wijesinghe added.

While a memorandum of understanding for a merger was signed between these two banks recently, it was agreed to study the opportunities from such a merger.

Meanwhile, the Sri Lanka Central Bank held discussions recently with the regional representatives and senior managements of foreign banks operating in Sri Lanka on the merger of the financial sector and these banks pledged to actively contribute towards Sri Lanka’s economic activities.

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