Overview
- Nations Trust Bank signed a binding agreement on 24 September 2025 to acquire the business for 18 billion Sri Lankan Rupees, according to its filing to the Colombo Stock Exchange.
- The deal covers retail deposit accounts, credit card portfolios, and consumer loans serving about 200,000 customers.
- Completion is anticipated in the first half of 2026 subject to customary regulatory approvals, with coordination planned to limit customer disruption.
- HSBC will wind up retail operations in Sri Lanka by mid‑2026 while continuing corporate and institutional banking in the country.
- NTB plans to offer roles to staff currently engaged in HSBC Sri Lanka’s retail activities, and HSBC expects an immaterial pre‑tax gain on completion.