Sri Lanka’s HDFC gets Rs250m capital injection from tax-payers

ECONOMYNEXT – Sri Lanka’s HDFC Bank, a publicly traded mortgage lender with the state as main shareholder said it has received a 250 million rupee injection from the Treasury to meet capital requirements.

HDFC said in a stock exchange filing it had received the money in the form of a non-convertible perpetual debt.

Together with internally generated funds, the firm said it had met a 5.0 billion rupees minimum capital requirement set by the central bank.

The central bank had given approval for the Additional Tier 1 (AT1) bond to be included in capital. (Colombo/Aug04/2019)