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Saturday October 1st, 2022

Sri Lanka’s JKH, Central Finance asks for more time to cut NTB stake

ECONOMYNEXT – Sri Lanka’s John Keells Holdings and Central Finance has asked for more time from the regulator to cut their stakes in Nations Trust Bank.

The central bank’s director of bank supervision had written to the two firms of 21 December 2020 asking them to reduce their holdings in NTB to 20 percent by December 31 and 15 percent by December 2022.

“We wish to inform you that we have written to the Central Bank of Sri Lanka requesting an extension of the deadline and a formal response is awaited,” JKH said in a stock exchange filing.

“When we do receive a response, a further announcement will be made.”

“By letter dated 16th November 2021, the Company has requested for an extension of time

from CBSL to reduce the Central Finance Group shareholding in the voting shares of NTB
and is currently awaiting a formal response from the CBSL,” Central Finance said. (Colombo/Jan03/2021)

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