Nations Trust Bank clears regulatory hurdle for HSBC Sri Lanka retail acquisition

• Eyes completion in 1H 2026

Nations Trust Bank PLC (NTB) said it has secured approval from the Central Bank of Sri Lanka for its planned acquisition of the retail banking business of HSBC Sri Lanka, in line with Section 12(1)(c) of the Banking Act.

The bank confirmed that all conditions outlined in the Sale and Purchase Agreement signed on September 24, 2025, were met as of December 02, 2025.

With the regulatory clearance and conditions precedent now satisfied, NTB said it would move into the transaction migration phase as scheduled. The deal is expected to close in the first half of 2026.

The bank said it would issue a further announcement once the transaction is completed.