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HSBC to Exit Sri Lanka Retail Banking, Selling Franchise to Nations Trust Bank

A binding sale will transfer roughly 200,000 consumer relationships to a local buyer, with closing targeted in the first half of 2026.

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.