General Banking and Finance

Nations Trust Bank to Acquire HSBC Sri Lanka’s Retail Banking Business for LKR 18 Billion

Nations Trust Bank PLC (NTB) has announced the signing of a binding agreement to acquire the retail banking operations of HSBC Sri Lanka for LKR 18 billion.

The deal, finalized today (24), covers HSBC’s premium banking customers, credit cards, retail loans, and accounts of around 200,000 customers. As part of the agreement, employees currently supporting HSBC’s retail banking division will be offered positions at NTB to ensure a seamless transition.

The acquisition, approved by NTB’s Board of Directors on September 23, will be funded through internally generated funds while maintaining regulatory ratios. The transaction is expected to be completed in the first half of 2026, subject to approval from the Central Bank of Sri Lanka and other conditions outlined in the Sale and Purchase Agreement.

NTB said the move reinforces its leadership in the premium retail banking space and underscores its commitment to delivering greater value to clients.