News, #mandira, Business

Nations Trust Bank Receives Central Bank Approval to Acquire HSBC’s Retail Banking Business

04 Dec, 2025

Feature Image

Nations Trust Bank PLC (NTB) announced this week that the Central Bank of Sri Lanka has approved its acquisition of HSBC’s retail banking operations of The Hongkong and Shanghai Banking Corporation in Sri Lanka.

NTB and HSBC signed a binding sale and purchase agreement in September, with the transaction expected to be completed in the first half of 2026.

Once finalised, the acquisition will transfer about 200,000 customer accounts to Nations Trust Bank, including premium banking clients, credit card portfolios and retail loan facilities. The move is expected to expand NTB’s footprint in the premium retail banking segment and support its long-term growth plans.

“We are now able to move into the next phase of the project with confidence,” NTB Director and Chief Executive Officer Hemantha Gunetilleke said, noting that the approval allows the bank to proceed with the transition activities already underway.

HSBC Sri Lanka Chief Executive Officer Mark Surgenor said the bank’s priority during the interim period is to maintain service quality and ensure that staff are supported as they prepare for the transfer to NTB. “We are working closely with NTB towards a seamless transfer of banking services upon completion of the transaction,” he said.

The acquisition is one of the largest retail banking transitions in the local market in recent years and positions Nations Trust Bank to strengthen its presence in high-value customer segments.

Nations Trust Bank serves consumer, commercial and corporate clients across multiple channels and is the issuer and sole acquirer of American Express Cards in Sri Lanka.

Recommended For You

Feature Image

Nominations handed over for Sri Lanka Cricket elections

Nominations were handed over today by candidates contesting the elections of the Sri Lanka Cricket board.? The Sri Lanka Cricket (SLC) Election Committee received nominations today for the upcoming SLC elections, which will be held to elect Sri Lanka Cricket office bearers for the period 2023-2025, the Sri Lanka Cricket board said. The Election Committee of the SLC was appointed at an Extraordinary General Meeting of the SLC by the Membership, pursuant to a decision taken by the Executive Comm

28 Feb, 2023

Feature Image

Pakistan restricts movement of Afghans through Torkham border after rise in terror attacks: Report

Pakistan has unilaterally decided to restrict the movement of Afghans coming to Peshawar through the Torkham border, Ilhamuddin Afghan wrote in the Afghan Diaspora Network report, adding that Pakistan’s decision comes as the first two months of 2023 has proved to be deadly for the country with two major terror attacks claiming more than 100 lives. Recently, Pakistan tightened security measures and controls at the border crossings with Afghanistan since TTP has increased terror attacks within Pa

28 Feb, 2023

Feature Image

Nikki Haley pledges to cut billions in aid to Pak, other US adversaries

US Republican Party, Grand Old Party (GOP) Presidential candidate?Nikki Haley?has said that if voted to power, she will cut every cent in foreign aid for countries that hate the US. This includes China,?Pakistan?and other adversaries as “a strong America doesn’t pay off the bad guys”. “I will cut every cent in foreign aid for countries that hate us. A strong America doesn’t pay off the bad guys. A proud America doesn’t waste our people’s hard-earned money. And the only leaders who deserve our t

28 Feb, 2023