TKS Group successfully completes merger

Monday, 11 August 2014 00:00 - - {{hitsCtrl.values.hits}}

The TKS Group yesterday announced that it had completed the integration of two of its finance sector holdings, TKS Finance Ltd., and Asian Finance Ltd. The merger was initiated with the approval of the Boards of Directors and shareholders of both companies and the Central Bank of Sri Lanka (CBSL) in June this year. This is one of the first mergers to have been completed under the CBSL’s ongoing push for consolidation to reinforce the country’s financial sector.

TKS Finance Limited Senior Director Dr. S.H.A.M. Abeyratne said, “We are delighted to note that our core team has moved swiftly and wrapped up this merger exercise in record time. With the data migration duly completed on 1 August 2014, all Asian Finance Limited branches will begin to operate as TKS Finance Limited.” With this move the Board of Directors of the company is now in the process of implementing a new business model to offer better financial services to customers while delivering greater value to shareholders. Rasika Kaluarachchi will be heading the operations of the merged entity, TKS Finance Limited as its CEO. With its head office at 245 Dharmapala Mawatha, Colombo 07 and a wide network of 11 branches spanning Colombo, Ratnapura, Matara, Negombo, Nugegoda, Kandy, Kiribathgoda, Kurunegala, Galle, Ambalangoda, and Trincomalee; TKS Finance Limited is geared to extend greater levels of service to its customers around the island. The TKS group is striving to make the company the most accomplished and successful finance company in Sri Lanka. TKS will continue to function as a trustee of people’s funds and protector of their financial capital by serving them as an honourable corporate entity.