Capital Alliance Finance rebrands as Colombo Trust Finance

Capital Alliance Finance PLC, a finance company controlled by Cargills Bank Limited said, the name of the company had been changed to Colombo Trust Finance PLC.

The company obtained shareholder approval in this regard at an Extraordinary General Meeting held on December 11, 2015.

Cargills Bank took over control of Capital Alliance Finance PLC under the financial sector consolidation plan set in motion by the previous regime.
The bank bought a 73.4 percent stake for over Rs.400 million. The seller was Capital Alliance Holdings Ltd.

As at September 30, 2015, Cargills Bank Limited held 76.15 percent of Colombo Trust Finance PLC, followed by Lankem Ceylon PLC and Divasa Equity which held 8.71 percent and 2.89 percent respectively.