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Banking

Sri Lanka’s DFCC Vardhana to merge with parent

Monday May 18, 2015 8:00 am

Monday May 18, 2015 8:00 am

COLOMBO (EconomyNext) – Sri Lanka’s DFCC Bank and its subsidiary DFCC Vardhana Bank had decided to merge and continue as a commercial bank, the firm said in a stock exchange filing.

DFCC owns 99.2 percent of DFCC Vardhana.

DFCC itself was earlier planning to merge with NDB under a plan pushed by the Central Bank.

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