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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Merchant Bank of Sri Lanka to be finance company; merge two units

Merchant Bank of Sri Lanka to be finance company; merge two units

5 posters

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Jeremy

Jeremy
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Mar 03, 2014 (LBO) - Merchant Bank of Sri Lanka (MBSL), a unit of state-run Bank of Ceylon said it was merging with two subsidiaries and become a finance company, under a regulatory directive.

MBSL will merge with MBSL Savings Bank Limited and MCSL Financial Services Ltd, under a master plan by Sri Lanka's central bank to reduce the total number of banks and finance companies in operation.
MBSL said it was dropping an earlier plan to merge with MBSL Savings Bank and become a 'licensed specialized bank.'

Instead, all three units will merge and operate as a licensed finance company.

Richie


Senior Equity Analytic
Senior Equity Analytic

Interesting then they can't carry name " Bank " .. Would be called Merchant Fiancé ...

VALUEPICK

VALUEPICK
Expert
Expert

We may see very strong entity soon.!

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

http://www.sundaytimes.lk/120108/BusinessTimes/bt06.html

CSE.SAS

CSE.SAS
Global Moderator

VALUEPICK wrote:We may see very strong entity soon.!

All non performing going under one roof......

Is it strong entity????


 lol! lol! lol! lol! lol! 

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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Merchant Bank of Sri Lanka to be finance company; merge two units

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