HNB MD/CEO clarifies on proposed NBFI consolidation

Saturday, 3 May 2014 00:01 - - {{hitsCtrl.values.hits}}

HNB MD/CEO Jonathan Alles yesterday issued a statement on the comments made by him at the MTI Forum held on 29 April on banking sector consolidation. Alles attended the said forum as a panellist.

“I would like to state both HNB’s and my position on this matter. We at HNB are fully supportive of the consolidation initiative and have been actively involved in preparatory work in order to decide on suitable acquisitions. We are in the process of reviewing due diligence reports received and will make a decision shortly. The model HNB has in mind at this stage is exactly as proposed by the Central Bank of Sri Lanka which was articulated at the forum, which is to have these finance companies as subsidiaries.”