Major shareholders of NTB get more time to shed control

The Central Bank has given more time for John Keells Holdings Plc and Central Finance Plc to reduce their shareholding in Nations Trust Bank Plc to 15% each.

Accordingly, John Keells Group (JKH Group) has been granted further time till 31 December 2021 and 31 December 2022 to reduce its shareholding in NTB to 20% and 15% respectively. JKH at present has an economic interest of 32.57% in NTB.

Central Finance Group (CF Group) has been granted further time till 31 December 2021 to reduce its shareholding in NTB to15% from a collective stake of 20%.