Most parts of the financial sector consolidation programme launched by the Central Bank of Sri Lanka could be completed by end this year and is scheduled to be completed within the first quarter of next year, said the Central Bank Governor.

Under this programme, some15 transactions are expected soon and discussions are now going ahead, said Central Bank Governor Ajith Nivard Cabraal.

“It is hard for us to comment before they are complete,” said the Governor.

Commercial Bank has agreed to buy licensed financial company Indra Finance Limited for Rs. 870 million under the financial sector consolidation programme.

Indra Finance Limited is a subsidiary of prominent motor vehicle dealers Indra Traders.