Sri Lanka’s DFCC Vardhana to merge with parent
Monday May 18, 2015
08:00
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.