We are pleased to announce that our firm represented DFCC Bank PLC in its proposed acquisition of Standard Chartered Bank Sri Lanka’s wealth and retail banking business encompassing priority banking, credit cards, retail lending, deposits and SME portfolios.
The proposed acquisition forms part of DFCC Bank’s strategic growth agenda to strengthen its retail and wealth management franchise, build scale and create sustainable value for customers, employees and shareholders.
Our role encompassed advising on the bidding process, regulatory considerations, and documentation to facilitate a smooth transfer of assets and operations, in alignment with applicable banking and labour laws.
The transaction underscores the Firm’s continued involvement in complex and high-value financial sector transactions, reflecting our deep sectoral expertise and ability to guide clients through transformative deals in Sri Lanka’s evolving financial landscape.
The transaction remains subject to the approval of the Central Bank of Sri Lanka, with completion expected by early 2026.
Our team advising on this transaction was led by Himali Muddadeniya, Partner and head of Banking and Finance and Buwaneka Basnayake, Partner and head of Capital Markets with support from Shakthi Ratnakumaran, Principal Associate, Nuwan Perera, Associate and Shreyan Fernando, Legal Assistant.
Further information can be found at: