DFCC Bank clarifies

With regard to the article carried in Daily FT on Friday 31 March titled ‘Global recession coming, Sri Lanka must cash in: Nicholas; Privatising DFCC, NDB a big mistake,’ DFCC Vardhana Bank would like to make the following statement with regard to the content of the article.

“DFCC Bank was incorporated by an act of Parliament in 1955 and has been operating as a Public Quoted Company since then. As such, the case for privatisation never arose. In October 2015, DFCC Bank amalgamated with its commercial banking subsidiary DFCC Vardhana Bank, evolving into a fully-fledged commercial bank with a special focus on development banking.”