Axis Bank and ICICI Bank to close down SL operations

The Central Bank has permitted Axis Bank Ltd. and ICICI Bank Ltd. to close down their business operations in Sri Lanka, subject to certain conditions, at the request of their parent banks, a statement said yesterday. 

Accordingly, these two banks are currently not permitted to carry on banking business, including accepting deposits from the general public. The licences issued to them will be cancelled once the winding-up operations are completed, the Central Bank added.