We are pleased to announce that the Firm advised Nations Trust Bank PLC (“NTB”) on its proposed acquisition of the retail banking business of The Hongkong and Shanghai Banking Corporation Limited in Sri Lanka (HSBC Sri Lanka).
This landmark transaction, the largest in the Sri Lankan financial sector in recent years, encompasses HSBC Sri Lanka’s retail banking operations – including premium banking customers, credit cards, retail loans, and approximately 200,000 customer accounts.
This transaction is set to further strengthen NTB’s leadership in the premium retail banking segment and position the bank for significant growth in the Sri Lankan market.
The acquisition is expected to be completed in the first half of 2026, subject to regulatory approvals from the Central Bank of Sri Lanka.
The transaction was led by Shehara Varia (Partner and Head of Mergers and Acquisitions), Tilani Cooray (Partner, Banking and Finance), and Zaafir Reyaz (Associate).
#MergersAndAcquisitions #Banking #SriLanka #FinancialServices #LegalAdvisory
HSBC deal elevates NTB to top of mid-sized banks | Print Edition – The Sunday Times, Sri Lanka
NTB announces Rs. 18 b deal for HSBC Sri Lanka’s retail banking business | Daily FT
Corporate Disclosure – Proposed Acquisition Of The Retail Banking Business Of Hsbc Sri Lanka Branch