Sri Lanka’s DFCC Bank, DVB shareholders approve merger

ECONOMYNEXT – Shareholders of Sri Lanka’s DFCC Bank and its commercial banking subsidiary, DFCC Vardhana Bank, approved their merger from October 01 at an extraordinary general meeting Friday.

Shareholders of DVB, other than DFCC, are to be paid 52 rupees a share in lieu of their shareholding in DVB as at the date of amalgamation, a stock exchange filing said.

The merged entity will go as DFCC Bank Plc. DFCC started as a World Bank backed development lender.  (Colombo/August 28 2015)

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