DFCC Bank to Acquire Standard Chartered Bank’s Wealth and Retail Banking Business in Sri Lanka

DFCC Bank PLC (“DFCC Bank”) is pleased to announce that it has entered into a binding Business Sale Agreement with Standard Chartered Bank, United Kingdom, acting through its branch in Sri Lanka (“SCB Sri Lanka”), to acquire the wealth and retail banking business of SCB Sri Lanka.

The proposed acquisition covers all of SCB Sri Lanka’s wealth and retail banking business, which includes Priority Banking, credit cards, retail lending, deposits and SME. The transaction ensures that all SCB Sri Lanka’s wealth and retail banking employees will be provided comparable roles and opportunities to continue to grow and further their careers within DFCC Bank. Together, DFCC Bank and SCB Sri Lanka will ensure seamless transition of both customers and staff, and continuity of service and relationships throughout the integration process.

The proposed acquisition forms part of DFCC Bank’s long-term strategy to strengthen its retail and wealth management proposition, broaden its customer base, and build scale in key growth segments. The transaction will be funded entirely through internally generated capital, reflecting DFCC Bank’s strong financial foundation and disciplined approach to expansion.

With this milestone, DFCC Bank builds upon its seven-decade legacy of development and innovation to meet the evolving needs of Sri Lankan consumers. From its origins as the country’s first development finance institution to its position today as a fully-fledged commercial bank, DFCC Bank has consistently played a pivotal role in shaping the nation’s economic landscape. Guided by its purpose of building sustainable value and advancing progress, the Bank continues its transformation toward becoming the most customer-centric bank and the easiest to work with, while maintaining its standing as an employer of choice and a trusted partner in the country’s growth.

The transaction is subject to approval of the Central Bank of Sri Lanka. Completion is expected by early 2026.

About DFCC Bank

DFCC Bank PLC, established in 1955 and listed on the Colombo Stock Exchange since 1956, is one of Sri Lanka’s leading financial institutions. Regulated by the Central Bank of Sri Lanka and rated A (lka) by Fitch Ratings, DFCC Bank offers a comprehensive portfolio of retail, corporate, and SME banking services, along with treasury, investment, and trade finance solutions.

With customer centricity and sustainable innovation at its core, DFCC Bank delivers seamless and secure banking experiences, which include digital platforms like DFCC MySpace, and through a network of 133 branches and access to over 6,000 ATMs via the LankaPay network.

A recognised leader in sustainable finance and renewable energy initiatives, DFCC Bank is committed to reducing environmental impact and fostering long-term economic resilience.

About Standard Chartered Bank

We are a leading international banking group, with a presence in 54 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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