DFCC Bank gets green light for Standard Chartered retail, wealth banking acquisition

DFCC Bank has secured the regulatory clearance to move ahead with its proposed acquisition of the wealth and retail banking business of Standard Chartered Bank’s Sri Lanka branch, the lender said in a stock exchange filing yesterday.
The Central Bank of Sri Lanka has granted approval under Section 12(1)(c) of Banking Act No. 30 of 1988, clearing a key hurdle for the transaction first announced in November 2025.
Following the approval, DFCC Bank said it would proceed with the next phases of the transaction, including customer migration and system integration. The bank expects the acquisition to be completed by the second quarter of 2026.
DFCC Bank said it would make a further announcement upon the completion of the transaction. The disclosure was made in line with the immediate disclosure requirements of the Colombo Stock Exchange.